Paramount Global (NASDAQ:PARA) Given Average Rating of “Reduce” by Analysts

Shares of Paramount Global (NASDAQ:PARA) have been assigned an average rating of “Reduce” from the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $12.47.

Several research analysts recently issued reports on PARA shares. The Goldman Sachs Group initiated coverage on shares of Paramount Global in a report on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price for the company. Evercore ISI lowered their target price on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price target 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. StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 target price on shares of Paramount Global in a report on Tuesday, June 4th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in shares of Paramount Global by 146.5% during the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock worth $1,787,000 after buying an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Paramount Global by 5.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after purchasing an additional 34,541 shares in the last quarter. Financial Counselors Inc. boosted its holdings in shares of Paramount Global by 6.9% during the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock worth $8,980,000 after purchasing an additional 56,021 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Paramount Global by 33.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after purchasing an additional 103,103 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Paramount Global by 19.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 57,368 shares of the company’s stock valued at $848,000 after purchasing an additional 9,512 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Up 1.1 %

Shares of PARA stock opened at $10.56 on Thursday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The firm has a market capitalization of $7.04 billion, a PE ratio of -70.40, a P/E/G ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The stock’s 50-day simple moving average is $10.89 and its 200-day simple moving average is $11.33.

Paramount Global (NASDAQ:PARA) last issued 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 negative net margin of 17.62% and a positive return on equity of 4.88%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.21 billion. Equities analysts expect that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s dividend payout ratio is presently -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.