Paramount Global (NASDAQ:PARA – Get Free Report) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.
Other analysts have also recently issued research reports about the stock. Guggenheim lowered their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. The Goldman Sachs Group started coverage on Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Rosenblatt Securities reissued a “neutral” rating and set a $14.00 price target on shares of Paramount Global in a report on Tuesday, June 4th. Finally, Benchmark restated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average price target of $12.18.
Read Our Latest Research Report on Paramount Global
Paramount Global Price Performance
Paramount Global (NASDAQ:PARA – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. As a group, analysts forecast that Paramount Global will post 1.57 EPS for the current fiscal year.
Institutional Investors Weigh In On Paramount Global
Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Paramount Global in the 4th quarter worth $41,497,000. Quest Partners LLC bought a new stake in Paramount Global in the 4th quarter worth about $98,000. United Services Automobile Association purchased a new stake in Paramount Global in the 4th quarter valued at about $201,000. Treasurer of the State of North Carolina lifted its position in shares of Paramount Global by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 255,878 shares of the company’s stock worth $3,784,000 after buying an additional 2,500 shares in the last quarter. Finally, Claret Asset Management Corp boosted its stake in shares of Paramount Global by 13.3% in the 4th quarter. Claret Asset Management Corp now owns 393,550 shares of the company’s stock worth $5,821,000 after buying an additional 46,167 shares during the last quarter. Institutional investors and hedge funds 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 ChilevisiĆ³n; 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.
Featured Articles
- Five stocks we like better than Paramount Global
- The How And Why of Investing in Oil Stocks
- Should You Invest in Treasury Bills?
- Do ETFs Pay Dividends? What You Need to Know
- Analysts Think There’s Still Time to Get in on Edgewise, Up 332%
- Investing in Travel Stocks Benefits
- 3 Stocks Raising Dividends 4X Higher Than Inflation
Receive News & Ratings for Paramount Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Global and related companies with MarketBeat.com's FREE daily email newsletter.