Analysts Set Paramount Global (NASDAQ:PARA) PT at $12.33

Paramount Global (NASDAQ:PARA) has earned an average rating of “Reduce” from the eighteen analysts that are presently covering the firm, MarketBeat.com 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 price objective among brokers that have issued ratings on the stock in the last year is $12.33.

A number of brokerages have commented on PARA. Evercore ISI dropped their price objective on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a research note on Tuesday, July 9th. The Goldman Sachs Group initiated coverage on Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 price objective on the stock. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Guggenheim dropped their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th.

Paramount Global Stock Performance

NASDAQ PARA opened at $10.52 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The business has a 50 day simple moving average of $10.54 and a two-hundred day simple moving average of $11.21. The stock has a market capitalization of $7.01 billion, a PE ratio of -1.35, a P/E/G ratio of 0.58 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. On average, research analysts predict that Paramount Global will post 1.56 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is presently -2.57%.

Institutional Trading of Paramount Global

Large investors have recently modified their holdings of the company. Mitchell & Pahl Private Wealth LLC raised its position in Paramount Global by 8.0% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 48,922 shares of the company’s stock valued at $520,000 after purchasing an additional 3,627 shares in the last quarter. Avaii Wealth Management LLC increased its stake in shares of Paramount Global by 11.5% during the third quarter. Avaii Wealth Management LLC now owns 22,762 shares of the company’s stock valued at $242,000 after buying an additional 2,350 shares during the period. Guardian Investment Management bought a new stake in shares of Paramount Global in the third quarter valued at about $521,000. Exchange Traded Concepts LLC purchased a new stake in Paramount Global in the third quarter worth about $243,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Paramount Global by 518.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after acquiring an additional 4,100 shares in the last quarter. Hedge funds and other institutional investors 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.