Paramount Global (NASDAQ:PARA) Receives New Coverage from Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group began coverage on shares of Paramount Global (NASDAQ:PARA) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “sell” rating and a $9.50 price target on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 7.68% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Wells Fargo & Company cut Paramount Global from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $14.00 to $9.00 in a research note on Wednesday, June 12th. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Needham & Company LLC cut Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Seaport Res Ptn cut Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Ten investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.29.

Paramount Global Trading Up 1.4 %

NASDAQ PARA opened at $10.29 on Tuesday. The business has a 50 day simple moving average of $11.83 and a 200 day simple moving average of $12.58. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The stock has a market capitalization of $6.86 billion, a P/E ratio of -68.60, a P/E/G ratio of 0.31 and a beta of 1.78. 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 (NASDAQ:PARA) last released its earnings results on Monday, April 29th. The company reported $0.62 EPS 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 business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Research analysts expect that Paramount Global will post 1.32 earnings per share for the current year.

Institutional Trading of Paramount Global

Large investors have recently bought and sold shares of the company. VisionPoint Advisory Group LLC purchased a new stake in Paramount Global in the third quarter worth $25,000. Archer Investment Corp purchased a new position in shares of Paramount Global in the fourth quarter valued at $30,000. Anchor Investment Management LLC purchased a new position in shares of Paramount Global in the fourth quarter valued at $30,000. Friedenthal Financial purchased a new position in shares of Paramount Global in the fourth quarter valued at $39,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Paramount Global in the fourth quarter valued at $44,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

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.