Paramount Global (NASDAQ:PARA) Earns Hold Rating from Analysts at StockNews.com

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

A number of other research analysts have also commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. UBS Group reduced their target price on Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research report on Tuesday, April 15th. Morgan Stanley raised their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday, April 2nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $19.00 target price 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 assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.92.

Paramount Global Stock Performance

NASDAQ:PARA opened at $11.43 on Thursday. The business’s fifty day moving average is $11.41 and its 200 day moving average is $11.03. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of -1.39, a PEG ratio of 1.68 and a beta of 1.31. 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 52-week low of $9.54 and a 52-week high of $13.79.

Paramount Global (NASDAQ:PARA) last announced its quarterly 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). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.75%. Paramount Global’s payout ratio is -2.15%.

Hedge Funds Weigh In On Paramount Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its position in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the period. Mattson Financial Services LLC purchased a new stake in Paramount Global during the 4th quarter valued at about $28,000. Ossiam grew its position in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after acquiring an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Paramount Global in the 4th quarter worth approximately $31,000. Finally, Rakuten Securities Inc. lifted its position in Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after purchasing an additional 2,019 shares during the last quarter. 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.