Paramount Global (NASDAQ:PARA) Upgraded to Hold at StockNews.com

Paramount Global (NASDAQ:PARA) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Other analysts have also recently issued research reports about the stock. Guggenheim lowered their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. The Goldman Sachs Group started coverage on Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Rosenblatt Securities reissued a “neutral” rating and set a $14.00 price target on shares of Paramount Global in a report on Tuesday, June 4th. Finally, Benchmark restated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average price target of $12.18.

Paramount Global Price Performance

Paramount Global stock remained flat at $10.55 during trading hours on Wednesday. The company’s stock had a trading volume of 4,934,737 shares, compared to its average volume of 16,420,160. The company’s fifty day simple moving average is $10.74 and its 200-day simple moving average is $11.32. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The stock has a market cap of $7.03 billion, a P/E ratio of -70.33, a PEG ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. As a group, analysts forecast that Paramount Global will post 1.57 EPS 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. Norges Bank bought a new stake in shares of Paramount Global in the 4th quarter worth $41,497,000. Quest Partners LLC bought a new stake in Paramount Global in the 4th quarter worth about $98,000. United Services Automobile Association purchased a new stake in Paramount Global in the 4th quarter valued at about $201,000. Treasurer of the State of North Carolina lifted its position in shares of Paramount Global by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 255,878 shares of the company’s stock worth $3,784,000 after buying an additional 2,500 shares in the last quarter. Finally, Claret Asset Management Corp boosted its stake in shares of Paramount Global by 13.3% in the 4th quarter. Claret Asset Management Corp now owns 393,550 shares of the company’s stock worth $5,821,000 after buying an additional 46,167 shares during the last quarter. Institutional investors and hedge funds 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.