Paramount Global (NASDAQ:PARA) Receives $12.10 Consensus Target Price from Analysts

Paramount Global (NASDAQ:PARA) has been given an average rating of “Reduce” by the fourteen research firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.10.

A number of research firms have weighed in on PARA. Benchmark reissued a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley raised their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th.

Hedge Funds Weigh In On Paramount Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP grew its position in Paramount Global by 140.1% in the 4th 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 last quarter. Mattson Financial Services LLC purchased a new position in Paramount Global in the 4th quarter valued at $28,000. Huntington National Bank grew its position in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares during the last quarter. Ossiam grew its position in Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after buying an additional 1,022 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Paramount Global in the 4th quarter valued at $31,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Up 0.4 %

Shares of NASDAQ:PARA opened at $11.69 on Thursday. The firm’s 50 day moving average price is $11.05 and its 200 day moving average price is $10.80. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last issued its 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). The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities research analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. Paramount Global’s payout ratio is -2.15%.

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.