Paramount Global (NASDAQ:PARA) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Paramount Global (NASDAQ:PARA) have been given a consensus recommendation of “Reduce” by the twenty-one research firms that are currently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.58.

A number of brokerages have recently commented on PARA. Deutsche Bank Aktiengesellschaft dropped their price target on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Argus cut Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price target on Paramount Global from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Finally, Needham & Company LLC cut Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th.

Institutional Trading of Paramount Global

Several large investors have recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Paramount Global by 5.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after buying an additional 769 shares during the period. Highlander Capital Management LLC grew its stake in shares of Paramount Global by 13.4% in the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after buying an additional 850 shares during the period. Kestra Private Wealth Services LLC grew its stake in shares of Paramount Global by 3.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock valued at $431,000 after buying an additional 879 shares during the period. Arizona State Retirement System grew its stake in shares of Paramount Global by 0.7% in the 4th quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after buying an additional 887 shares during the period. Finally, Cape Investment Advisory Inc. grew its stake in shares of Paramount Global by 5.2% in the 4th quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock valued at $266,000 after buying an additional 889 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Down 3.4 %

NASDAQ PARA opened at $11.79 on Friday. The business has a fifty day moving average price of $11.99 and a two-hundred day moving average price of $12.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $17.50. The stock has a market capitalization of $7.86 billion, a PE ratio of -78.59, a PEG ratio of 0.37 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last released its earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the prior year, the company earned $0.09 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.70%. Paramount Global’s payout ratio is currently -133.32%.

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.