Paramount Global (NASDAQ:PARA) Receives $12.43 Average Price Target from Analysts

Shares of Paramount Global (NASDAQ:PARA) have earned an average recommendation of “Reduce” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $12.43.

A number of research analysts recently commented on PARA shares. Guggenheim lowered their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Macquarie reiterated an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th.

Institutional Investors Weigh In On Paramount Global

Several institutional investors have recently made changes to their positions in PARA. Charles Schwab Investment Management Inc. raised its position in Paramount Global by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the period. Bridgewater Associates LP lifted its stake in shares of Paramount Global by 50.7% during the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after acquiring an additional 110,357 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Paramount Global by 824.1% during the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock valued at $2,029,000 after acquiring an additional 174,514 shares during the period. Financial Counselors Inc. grew its position in Paramount Global by 6.9% in the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after acquiring an additional 56,021 shares during the last quarter. Finally, HBK Investments L P purchased a new stake in Paramount Global in the third quarter worth $5,098,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

PARA opened at $10.67 on Friday. The company has a 50 day simple moving average of $10.86 and a two-hundred day simple moving average of $10.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market cap of $7.12 billion, a P/E ratio of -1.30, a PEG ratio of 1.35 and a beta of 1.70. Paramount Global has a 1-year low of $9.54 and a 1-year high of $15.70.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Paramount Global’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. Equities analysts forecast that Paramount Global will post 1.86 earnings per share for the current fiscal year.

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.