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

StockNews.com started coverage on shares of Paramount Global (NASDAQ:PARA) in a research report report published on Sunday. The firm issued a hold rating on the stock.

Other analysts also recently issued research reports about the company. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. 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 research report on Tuesday, February 4th. Guggenheim reissued a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Six analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.10.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $11.56 on Friday. The stock has a market cap of $7.71 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The firm has a fifty day moving average price of $11.28 and a 200-day moving average price of $10.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

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

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.73%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PARA. Wellington Management Group LLP raised its position in Paramount Global by 83.0% during the fourth quarter. Wellington Management Group LLP now owns 187,453 shares of the company’s stock valued at $1,961,000 after purchasing an additional 85,047 shares during the period. Mattson Financial Services LLC bought a new position in shares of Paramount Global during the 4th quarter valued at approximately $28,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Paramount Global during the 4th quarter valued at $911,000. B. Riley Wealth Advisors Inc. lifted 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 buying an additional 2,512 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Paramount Global during the fourth quarter worth $5,688,000. 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.