Paramount Global (NASDAQ:PARA) Rating Reiterated by Benchmark

Benchmark restated their buy rating on shares of Paramount Global (NASDAQ:PARA) in a research note issued to investors on Tuesday, Benzinga reports. Benchmark currently has a $19.00 target price on the stock.

PARA has been the subject of a number of other research reports. Redburn Atlantic cut Paramount Global from a neutral rating to a sell rating and reduced their price target for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Wolfe Research raised Paramount Global from an underperform rating to a peer perform rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Paramount Global from $20.00 to $15.00 and set a buy rating on the stock in a research note on Wednesday, February 28th. StockNews.com upgraded shares of Paramount Global from a sell rating to a hold rating in a research report on Wednesday, April 10th. Finally, Rosenblatt Securities reiterated a neutral rating and issued a $13.00 target price on shares of Paramount Global in a research report on Tuesday, April 9th. Ten research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $13.58.

Paramount Global Trading Down 7.0 %

Shares of NASDAQ:PARA opened at $12.89 on Tuesday. The company has a market capitalization of $8.41 billion, a PE ratio of -85.93, a PEG ratio of 0.42 and a beta of 1.74. Paramount Global has a 12-month low of $10.12 and a 12-month high of $19.04. The business has a 50 day moving average of $11.52 and a two-hundred day moving average of $12.88. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65.

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, topping analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.73 billion. During the same period in the prior year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts forecast that Paramount Global will post 1.32 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.55%. Paramount Global’s dividend payout ratio is currently -133.32%.

Institutional Investors Weigh In On Paramount Global

Several institutional investors and hedge funds have recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Paramount Global by 5.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock worth $220,000 after purchasing an additional 769 shares in the last quarter. Highlander Capital Management LLC increased its stake in Paramount Global by 13.4% during the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after buying an additional 850 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in Paramount Global by 3.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock worth $431,000 after buying an additional 879 shares in the last quarter. Arizona State Retirement System boosted its position in Paramount Global by 0.7% in the 4th quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after buying an additional 887 shares during the period. Finally, Cape Investment Advisory Inc. grew its stake in shares of Paramount Global by 5.2% in the fourth quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock worth $266,000 after acquiring an additional 889 shares in the last quarter. 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.