Benchmark Reaffirms Buy Rating for Paramount Global (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA)‘s stock had its “buy” rating reiterated by research analysts at Benchmark in a research note issued to investors on Thursday,Benzinga reports. They currently have a $19.00 price objective on the stock. Benchmark’s price objective would indicate a potential upside of 67.25% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday. Macquarie restated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Paramount Global has a consensus rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Up 1.1 %

Paramount Global stock opened at $11.36 on Thursday. The firm has a market capitalization of $7.58 billion, a P/E ratio of -1.38, a P/E/G ratio of 1.68 and a beta of 1.69. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The stock’s fifty day simple moving average is $10.81 and its 200-day simple moving average is $10.74.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The firm had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. As a group, equities analysts expect that Paramount Global will post 1.77 earnings per share 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. Contrarius Group Holdings Ltd purchased a new position in Paramount Global during the 4th quarter valued at about $146,230,000. State Street Corp grew its position in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the last quarter. Norges Bank purchased a new position in shares of Paramount Global during the 4th quarter worth approximately $45,202,000. Slate Path Capital LP raised its position in shares of Paramount Global by 42.3% during the 4th quarter. Slate Path Capital LP now owns 12,586,000 shares of the company’s stock worth $131,650,000 after purchasing an additional 3,741,000 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Paramount Global in the 4th quarter valued at approximately $21,229,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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.