UBS Group Has Lowered Expectations for Paramount Global (NASDAQ:PARA) Stock Price

Paramount Global (NASDAQ:PARA) had its price objective decreased by UBS Group from $11.00 to $10.00 in a research report report published on Tuesday,Benzinga reports. UBS Group currently has a sell rating on the stock.

A number of other equities research analysts also recently weighed in on PARA. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a report on Wednesday, April 2nd. Guggenheim reissued a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com initiated coverage on shares of Paramount Global in a report on Tuesday. They set a “hold” rating on the stock. Morgan Stanley boosted their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Paramount Global presently has an average rating of “Hold” and a consensus target price of $11.92.

Paramount Global Stock Performance

Shares of PARA stock opened at $10.94 on Tuesday. The company has a fifty day moving average price of $11.37 and a two-hundred day moving average price of $10.95. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The stock has a market cap of $7.30 billion, a P/E ratio of -1.33, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. As a group, equities analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Hedge Funds Weigh In On Paramount Global

Several hedge funds have recently bought and sold shares of PARA. Charles Schwab Investment Management Inc. raised its holdings in shares of Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock valued at $80,993,000 after acquiring an additional 348,298 shares in the last quarter. Franklin Resources Inc. raised its stake in Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock valued at $2,029,000 after purchasing an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. lifted its position in Paramount Global by 16.2% during the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after purchasing an additional 265,408 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Paramount Global by 24.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after buying an additional 908,515 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Paramount Global in the 4th quarter worth $5,457,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.