UBS Group Issues Pessimistic Forecast for Paramount Global (NASDAQ:PARA) Stock Price

Paramount Global (NASDAQ:PARA) had its target price lowered by UBS Group from $11.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. UBS Group’s price objective would indicate a potential downside of 7.71% from the stock’s current price.

Several other brokerages have also weighed in on PARA. StockNews.com began coverage on shares of Paramount Global in a research report on Tuesday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Wednesday, April 2nd. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley increased their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Seven research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.92.

Paramount Global Stock Performance

Shares of Paramount Global stock traded up $0.15 during trading hours on Tuesday, hitting $10.84. 2,097,997 shares of the company were exchanged, compared to its average volume of 11,573,890. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a P/E/G ratio of 1.68 and a beta of 1.31. The business has a 50-day moving average of $11.36 and a 200-day moving average of $10.95. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. As a group, analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Institutional Trading of Paramount Global

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock valued at $80,993,000 after buying an additional 348,298 shares during the last quarter. Franklin Resources Inc. raised its holdings in Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock valued at $2,029,000 after acquiring an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. raised its stake 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 valued at $19,898,000 after purchasing an additional 265,408 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Paramount Global by 24.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after purchasing an additional 908,515 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Paramount Global during the fourth quarter valued at approximately $5,457,000. Institutional investors and hedge funds 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.