Paramount Global (NASDAQ:PARA) Given Average Rating of “Reduce” by Brokerages

Paramount Global (NASDAQ:PARA) has been assigned an average recommendation of “Reduce” from the fourteen analysts that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $12.09.

Several equities research analysts have commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com assumed coverage on Paramount Global in a research note on Monday. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Wednesday, April 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ossiam raised its holdings in shares of Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after acquiring an additional 1,022 shares during the last quarter. Allworth Financial LP raised its stake in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Paramount Global by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company’s stock valued at $2,722,000 after purchasing an additional 1,640 shares in the last quarter. Norinchukin Bank The boosted its stake in Paramount Global by 6.8% during the 4th quarter. Norinchukin Bank The now owns 25,793 shares of the company’s stock worth $270,000 after purchasing an additional 1,640 shares during the last quarter. Finally, Insight Inv LLC boosted its stake in Paramount Global by 9.8% during the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after purchasing an additional 1,825 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Down 3.6 %

Paramount Global stock opened at $11.07 on Monday. The stock has a 50-day moving average price of $11.38 and a 200 day moving average price of $10.94. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of -1.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. 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 quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Sell-side analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.81%. Paramount Global’s dividend payout ratio is currently -2.15%.

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.