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

Paramount Global (NASDAQ:PARA) has been assigned an average rating of “Reduce” from the fifteen analysts that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $12.50.

Several brokerages have recently weighed in on PARA. Guggenheim reduced their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank boosted its holdings in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the period. Kennebec Savings Bank acquired a new stake in Paramount Global during the 3rd quarter valued at $47,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in Paramount Global in the 2nd quarter worth approximately $68,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Up 2.0 %

NASDAQ:PARA opened at $10.48 on Wednesday. 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 stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -1.27, a PEG ratio of 1.50 and a beta of 1.70. Paramount Global has a 52 week low of $9.54 and a 52 week high of $15.70. The firm has a 50 day moving average of $10.74 and a 200 day moving average of $10.77.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same period last year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paramount Global will post 1.78 earnings per share for the current fiscal 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.