Paramount Global (NASDAQ:PARA) Stock Rating Lowered by StockNews.com

Paramount Global (NASDAQ:PARA) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

A number of other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Paramount Global in a research note on Tuesday, April 9th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research note on Tuesday, January 9th. Morgan Stanley reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, February 27th. Finally, Needham & Company LLC lowered shares of Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average target price of $13.58.

Paramount Global Price Performance

Shares of PARA stock opened at $12.26 on Tuesday. Paramount Global has a 12-month low of $10.12 and a 12-month high of $23.45. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of -81.53, a price-to-earnings-growth ratio of 0.44 and a beta of 1.77. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $11.47 and a 200-day moving average of $12.88.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.34%. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. During the same quarter in the previous year, the business earned $0.09 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that Paramount Global will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. VisionPoint Advisory Group LLC bought a new position in Paramount Global in the 3rd quarter valued at about $25,000. Archer Investment Corp bought a new position in Paramount Global in the 4th quarter valued at about $30,000. Anchor Investment Management LLC bought a new position in Paramount Global in the 4th quarter valued at about $30,000. WFA of San Diego LLC raised its holdings in Paramount Global by 635.0% in 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 period. Finally, Friedenthal Financial acquired a new position in shares of Paramount Global during the 4th quarter worth approximately $39,000. 73.00% of the stock is owned by institutional investors.

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.