Janney Montgomery Scott LLC Has $1.27 Million Stock Position in Paramount Global (NASDAQ:PARA)

Janney Montgomery Scott LLC lowered its position in Paramount Global (NASDAQ:PARA) by 37.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 119,085 shares of the company’s stock after selling 72,746 shares during the period. Janney Montgomery Scott LLC’s holdings in Paramount Global were worth $1,265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PARA. ProShare Advisors LLC raised its position in shares of Paramount Global by 146.5% during the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock worth $1,787,000 after purchasing an additional 90,262 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Paramount Global by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after buying an additional 34,541 shares during the last quarter. Financial Counselors Inc. lifted its stake in shares of Paramount Global by 6.9% in the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after buying an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Paramount Global by 33.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after buying an additional 103,103 shares during the last quarter. Finally, Hoertkorn Richard Charles increased its position in shares of Paramount Global by 38.1% during the third quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock worth $2,354,000 after acquiring an additional 61,191 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PARA shares. Guggenheim cut their price target 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. JPMorgan Chase & Co. lowered their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Macquarie reiterated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a report on Monday. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Paramount Global has an average rating of “Hold” and a consensus target price of $12.40.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $11.35 on Friday. 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 fifty-two week low of $9.54 and a fifty-two week high of $17.50. The stock has a market cap of $7.57 billion, a PE ratio of -1.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.74. The stock has a fifty day moving average of $10.60 and a 200-day moving average of $11.09.

Paramount Global (NASDAQ:PARA) last posted its earnings results 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. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts anticipate that Paramount Global will post 1.78 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.76%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is presently -2.43%.

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.