StockNews.com Downgrades Paramount Global (NASDAQ:PARA) to Sell

Paramount Global (NASDAQ:PARA) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other brokerages have also weighed in on PARA. Benchmark dropped their target price on shares of Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Paramount Global in a research report on Thursday, February 29th. Morgan Stanley lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $15.00 to $18.00 in a research report on Wednesday, December 20th. Finally, Loop Capital lowered shares of Paramount Global from a “hold” rating to a “sell” rating and set a $12.00 price objective for the company. in a research report on Friday, December 8th. Ten investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.05.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $11.70 on Tuesday. The firm has a fifty day moving average price of $12.28 and a 200-day moving average price of $13.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17. The stock has a market cap of $7.63 billion, a PE ratio of -11.47, a price-to-earnings-growth ratio of 0.41 and a beta of 1.76. Paramount Global has a 1 year low of $10.16 and a 1 year high of $24.00.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.80 billion. During the same quarter in the prior year, the business earned $0.08 earnings per share. Paramount Global’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities analysts anticipate that Paramount Global will post 1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC purchased a new position in Paramount Global in the 3rd quarter worth about $25,000. Anchor Investment Management LLC purchased a new position in Paramount Global in the 4th quarter worth about $30,000. Archer Investment Corp purchased a new position in Paramount Global in the 4th quarter worth about $30,000. Cornerstone Planning Group LLC purchased a new position in Paramount Global in the 2nd quarter worth about $30,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Paramount Global during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Company Profile

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.