Paramount Global (NASDAQ:PARA) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Paramount Global (NASDAQ:PARA) have received a consensus rating of “Reduce” from the eighteen research firms that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $12.33.

Several research firms recently issued reports on PARA. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. The Goldman Sachs Group initiated 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. Finally, StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd.

Paramount Global Stock Up 0.1 %

Paramount Global stock opened at $10.35 on Monday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The business has a fifty day moving average price of $10.54 and a 200-day moving average price of $11.23. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of -1.33, a PEG ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $7.21 billion. Equities research analysts forecast that Paramount Global will post 1.56 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.93%. Paramount Global’s dividend payout ratio (DPR) is presently -2.57%.

Institutional Investors Weigh In On Paramount Global

Institutional investors have recently bought and sold shares of the company. Guardian Investment Management acquired a new position in shares of Paramount Global during the third quarter valued at approximately $521,000. Exchange Traded Concepts LLC acquired a new position in Paramount Global in the 3rd quarter valued at $243,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after purchasing an additional 4,100 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in Paramount Global during the 3rd quarter worth $1,015,000. Finally, Czech National Bank grew its holdings in shares of Paramount Global by 28.6% during the third quarter. Czech National Bank now owns 121,149 shares of the company’s stock worth $1,287,000 after buying an additional 26,944 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.