Shares of Paramount Global (NASDAQ:PARA – Get Free Report) have been given a consensus rating of “Reduce” by the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $12.50.
Several equities analysts recently issued reports on PARA shares. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th.
View Our Latest Research Report on PARA
Paramount Global Price Performance
Paramount Global (NASDAQ:PARA – Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. As a group, equities analysts expect that Paramount Global will post 1.78 EPS for the current fiscal year.
Hedge Funds Weigh In On Paramount Global
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its position in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank grew its holdings in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the period. Kennebec Savings Bank bought a new position in shares of Paramount Global in the third quarter worth about $47,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Paramount Global by 518.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after buying an additional 4,100 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in shares of Paramount Global during the 2nd quarter valued at approximately $68,000. Hedge funds and other 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.
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