Paramount Global (NASDAQ:PARA) Now Covered by StockNews.com

Equities researchers at StockNews.com began coverage on shares of Paramount Global (NASDAQ:PARA) in a research report issued to clients and investors on Saturday. The brokerage set a “hold” rating on the stock.

PARA has been the topic of a number of other reports. Guggenheim reissued a “buy” rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reissued a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley boosted their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Down 0.6 %

PARA stock opened at $11.86 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month 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. The firm has a market cap of $7.91 billion, a PE ratio of -1.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The business has a 50 day moving average of $11.16 and a 200 day moving average of $10.84.

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 during 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%. On average, research analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Paramount Global

Several institutional investors have recently modified their holdings of PARA. OneDigital Investment Advisors LLC acquired a new stake in Paramount Global during the 3rd quarter worth $135,000. Mutual of America Capital Management LLC boosted its holdings in Paramount Global by 17.4% during the third quarter. Mutual of America Capital Management LLC now owns 73,219 shares of the company’s stock worth $778,000 after buying an additional 10,877 shares in the last quarter. Quest Partners LLC purchased a new stake in Paramount Global during the third quarter worth about $294,000. Banque Cantonale Vaudoise acquired a new stake in shares of Paramount Global in the third quarter valued at approximately $224,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Paramount Global in the third quarter valued at approximately $123,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

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.