Paramount Global (NASDAQ:PARA) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Paramount Global (NASDAQ:PARA) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the stock.

A number of other brokerages have also recently weighed in on PARA. Morgan Stanley lifted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Finally, Guggenheim reiterated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.86 on Friday. The firm has a market cap of $7.91 billion, a PE ratio of -1.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The business’s fifty day simple moving average is $11.16 and its 200-day simple moving average is $10.84. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

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

Institutional Investors Weigh In On Paramount Global

Several hedge funds have recently modified their holdings of PARA. Mattson Financial Services LLC acquired a new position in shares of Paramount Global during the fourth quarter worth about $28,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Paramount Global during the fourth quarter worth $911,000. B. Riley Wealth Advisors Inc. raised its position in Paramount Global by 24.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 12,695 shares of the company’s stock worth $133,000 after acquiring an additional 2,512 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Paramount Global in the fourth quarter valued at $5,688,000. Finally, Waverly Advisors LLC purchased a new stake in shares of Paramount Global during the 4th quarter worth $106,000. 73.00% of the stock is owned by institutional investors and hedge funds.

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.