Paramount Global (NASDAQ:PARA) Receives $12.10 Average Target Price from Analysts

Shares of Paramount Global (NASDAQ:PARA) have earned a consensus rating of “Reduce” from the fourteen ratings firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $12.10.

A number of equities research analysts have recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating and set a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Finally, Morgan Stanley upped their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $11.69 on Thursday. The firm has a market cap of $7.80 billion, a PE ratio of -1.42, a PEG ratio of 1.68 and a beta of 1.60. The firm has a fifty day moving average of $11.05 and a 200 day moving average of $10.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. As a group, research analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is -2.15%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Paramount Global by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock valued at $701,242,000 after purchasing an additional 761,561 shares during the period. Lingotto Investment Management LLP boosted its stake in shares of Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after purchasing an additional 1,593,579 shares during the period. State Street Corp boosted its stake in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the period. Invesco Ltd. boosted its stake in shares of Paramount Global by 5.7% in the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock valued at $215,413,000 after purchasing an additional 1,119,314 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Paramount Global by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock valued at $162,731,000 after purchasing an additional 724,565 shares during the period. 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.