Paramount Global (NASDAQ:PARA) Now Covered by StockNews.com

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

Several other brokerages have also recently commented on PARA. Morgan Stanley increased their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Paramount Global presently has a consensus rating of “Hold” and a consensus target price of $12.10.

Paramount Global Stock Performance

PARA opened at $11.56 on Friday. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. The business’s 50-day moving average price is $11.28 and its two-hundred day moving average price is $10.89. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA) last announced its earnings results 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Equities analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock worth $701,242,000 after purchasing an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP increased its holdings in shares of Paramount Global by 3.7% during the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock worth $468,120,000 after buying an additional 1,593,579 shares in the last quarter. State Street Corp raised its position in Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the last quarter. Invesco Ltd. boosted its position in Paramount Global by 5.7% during the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock worth $215,413,000 after buying an additional 1,119,314 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock worth $162,731,000 after purchasing an additional 724,565 shares during the period. Institutional investors own 73.00% of the company’s stock.

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.