Paramount Global (NASDAQ:PARA) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global (NASDAQ:PARA) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, MarketBeat reports. The firm currently has $12.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reiterated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com started coverage on Paramount Global in a research report on Sunday, March 30th. They set a “hold” rating on the stock. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.09.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.07 on Wednesday. The firm has a market capitalization of $7.38 billion, a P/E ratio of -1.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The business’s fifty day simple moving average is $11.38 and its 200 day simple moving average is $10.93.

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

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Hedge Funds Weigh In On Paramount Global

Large investors have recently modified their holdings of the stock. Allworth Financial LP grew its stake in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares during the period. Mattson Financial Services LLC bought a new position in shares of Paramount Global during the 4th quarter valued at $28,000. Ossiam boosted its stake in shares of Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after buying an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Paramount Global in the fourth quarter worth $31,000. Finally, Rakuten Securities Inc. increased its position in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after acquiring an additional 2,019 shares during 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.