Analysts Set Paramount Global (NASDAQ:PARA) PT at $12.47

by · The Markets Daily

Shares of Paramount Global (NASDAQ:PARA – Get Free Report) have been given an average rating of “Reduce” by the twenty brokerages that are currently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.18.

Several equities research analysts recently weighed in on PARA shares. JPMorgan Chase & Co. dropped their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Guggenheim decreased their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $10.00 to $11.00 in a research note on Friday, August 9th.

Check Out Our Latest Stock Analysis on Paramount Global

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $10.55 on Thursday. The firm has a fifty day simple moving average of $10.74 and a two-hundred day simple moving average of $11.32. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $7.03 billion, a PE ratio of -70.33, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Equities analysts expect that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s payout ratio is presently -133.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new stake in Paramount Global during the 4th quarter valued at $44,000. Atlas Capital Advisors LLC bought a new position in Paramount Global in the second quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the second quarter worth about $43,000. SageView Advisory Group LLC purchased a new stake in shares of Paramount Global during the 1st quarter valued at about $56,000. Finally, GAMMA Investing LLC lifted its stake in shares of Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

About Paramount Global

(Get Free Report

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.

Featured Stories