Paramount Global (NASDAQ:PARA) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Paramount Global (NASDAQ:PARA) had its price target increased by equities researchers at Morgan Stanley from $10.00 to $11.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 1.48% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.58.

Paramount Global Stock Performance

Shares of PARA stock opened at $10.84 on Tuesday. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.58 and a beta of 1.69. The company has a 50-day simple moving average of $10.75 and a 200 day simple moving average of $10.72. 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 (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts predict that Paramount Global will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On Paramount Global

A number of institutional investors have recently modified their holdings of the business. Allworth Financial LP boosted its holdings in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares in the last quarter. Blue Trust Inc. boosted its position in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares during the period. Huntington National Bank grew its holdings in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of Paramount Global during the third quarter valued at $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Paramount Global by 518.3% during 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 during the period. Institutional investors and hedge funds 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.