Paramount Global (NASDAQ:PARA) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Paramount Global (NASDAQ:PARA) have been given an average recommendation of “Reduce” by the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $12.40.

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Guggenheim dropped their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Macquarie reaffirmed an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th.

Institutional Investors Weigh In On Paramount Global

A number of large investors have recently added to or reduced their stakes in PARA. Blue Trust Inc. boosted its stake in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank boosted its stake in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in Paramount Global during the 2nd quarter valued at $35,000. Ashton Thomas Private Wealth LLC bought a new position in Paramount Global during the 2nd quarter valued at $43,000. Finally, Kennebec Savings Bank bought a new position in Paramount Global during the 3rd quarter valued at $47,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Up 1.2 %

Shares of NASDAQ PARA opened at $10.98 on Tuesday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a market capitalization of $7.32 billion, a PE ratio of -1.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The firm’s 50-day moving average is $10.70 and its two-hundred day moving average is $10.91.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Equities analysts anticipate that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is -2.43%.

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.