Brokerages Set Paramount Global (NASDAQ:PARA) Target Price at $13.79

Paramount Global (NASDAQ:PARA) has earned a consensus recommendation of “Reduce” from the twenty ratings firms that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.79.

A number of research firms recently commented on PARA. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price target on shares of Paramount Global in a report on Tuesday, April 9th. Morgan Stanley lowered their price target on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, February 27th. JPMorgan Chase & Co. lowered their price target on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th.

Institutional Trading of Paramount Global

Hedge funds and other institutional investors have recently modified their holdings of the business. VisionPoint Advisory Group LLC purchased a new stake in shares of Paramount Global in the 3rd quarter worth about $25,000. Anchor Investment Management LLC purchased a new stake in shares of Paramount Global during the 4th quarter valued at about $30,000. Archer Investment Corp purchased a new stake in shares of Paramount Global during the 4th quarter valued at about $30,000. WFA of San Diego LLC boosted its holdings in shares of Paramount Global by 635.0% during the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Paramount Global by 55.1% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after purchasing an additional 1,056 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $12.68 on Monday. Paramount Global has a 52-week low of $10.12 and a 52-week high of $24.00. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of -12.43, a price-to-earnings-growth ratio of 0.44 and a beta of 1.77. The company has a fifty day moving average of $11.50 and a 200-day moving average of $12.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same quarter in the prior year, the company earned $0.08 EPS. The firm’s revenue was down 6.1% on a year-over-year basis. Equities research analysts expect that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio is presently -19.61%.

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.