Paramount Global (NASDAQ:PARA) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Paramount Global (NASDAQ:PARA) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the stock.

Other research analysts have also issued reports about the company. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley upped their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Trading Down 0.6 %

NASDAQ PARA opened at $11.86 on Friday. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of -1.44, a PEG ratio of 1.68 and a beta of 1.60. The stock’s 50 day moving average price is $11.16 and its two-hundred day moving average price is $10.84. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PARA. Mattson Financial Services LLC purchased a new position in shares of Paramount Global during the 4th quarter valued at $28,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Paramount Global in the 4th quarter worth about $911,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Paramount Global by 24.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 12,695 shares of the company’s stock worth $133,000 after purchasing an additional 2,512 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Paramount Global in the 4th quarter worth about $5,688,000. Finally, Waverly Advisors LLC purchased a new stake in Paramount Global during the 4th quarter valued at about $106,000. 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.