Paramount Global (NASDAQ:PARA) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Paramount Global (NASDAQ:PARA) have been assigned an average rating of “Reduce” from the seventeen analysts that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $12.57.

PARA has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Guggenheim reduced their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Friday, August 9th.

Paramount Global Stock Up 1.3 %

PARA stock opened at $11.53 on Friday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The business has a fifty day moving average price of $10.51 and a 200-day moving average price of $11.12. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market capitalization of $7.69 billion, a P/E ratio of -1.48, a P/E/G ratio of 1.63 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Equities analysts forecast that Paramount Global will post 1.61 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is -2.57%.

Hedge Funds Weigh In On Paramount Global

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank boosted its stake in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares during the period. Atlas Capital Advisors LLC bought a new position in shares of Paramount Global in the second quarter worth about $35,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paramount Global in the second quarter worth about $43,000. Finally, Kennebec Savings Bank bought a new position in shares of Paramount Global in the third quarter worth about $47,000. Institutional investors own 73.00% of the company’s stock.

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.