Paramount Global (NASDAQ:PARA) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Paramount Global (NASDAQ:PARA) in a report released on Sunday. The firm set a “hold” rating on the stock.

Several other equities analysts have also weighed in on PARA. Morgan Stanley increased their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed 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. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and a consensus price target of $12.10.

Paramount Global Trading Down 1.0 %

Shares of PARA stock opened at $11.56 on Friday. The company has a market cap of $7.71 billion, a P/E ratio of -1.41, a PEG 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 debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a 50 day simple moving average of $11.28 and a two-hundred day simple moving average of $10.89.

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 analysts’ consensus estimates of $0.18 by ($0.29). The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Research analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Institutional Investors Weigh In On Paramount Global

Several large investors have recently added to or reduced their stakes in PARA. Charles Schwab Investment Management Inc. increased its position in shares of Paramount Global by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock worth $80,993,000 after purchasing an additional 348,298 shares during the last quarter. Bridgewater Associates LP raised its position in Paramount Global by 50.7% during the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after purchasing an additional 110,357 shares in the last quarter. Franklin Resources Inc. lifted its stake in Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 174,514 shares during the last quarter. Wilsey Asset Management Inc. boosted its holdings in shares of Paramount Global by 16.2% in the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after purchasing an additional 265,408 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after purchasing an additional 908,515 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

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.