Paramount Global (NASDAQ:PARA) Given Consensus Rating of “Reduce” by Brokerages

Paramount Global (NASDAQ:PARA) has been assigned a consensus rating of “Reduce” from the seventeen analysts that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $12.43.

A number of research analysts recently weighed in on PARA shares. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie reaffirmed an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, Guggenheim decreased their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PARA. Principal Financial Group Inc. lifted its stake in shares of Paramount Global by 22.3% during the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock worth $7,258,000 after purchasing an additional 124,740 shares during the period. Retirement Systems of Alabama increased its stake in Paramount Global by 12.8% in the third quarter. Retirement Systems of Alabama now owns 179,384 shares of the company’s stock valued at $1,905,000 after purchasing an additional 20,335 shares during the last quarter. Franklin Resources Inc. lifted its position in Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after buying an additional 174,514 shares during the period. Virtu Financial LLC acquired a new stake in Paramount Global in the 3rd quarter worth about $196,000. Finally, Arete Wealth Advisors LLC purchased a new stake in Paramount Global in the 3rd quarter valued at about $288,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Down 0.4 %

Shares of NASDAQ:PARA opened at $10.40 on Friday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $15.70. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm’s 50-day simple moving average is $10.84 and its 200-day simple moving average is $10.76. The company has a market cap of $6.94 billion, a price-to-earnings ratio of -1.27, a PEG ratio of 1.35 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. As a group, equities research analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

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.