Paramount Global’s (PARA) “Buy” Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Paramount Global (NASDAQ:PARA) in a research report released on Thursday morning,Benzinga reports. Benchmark currently has a $19.00 price target on the stock.

A number of other research firms have also commented on PARA. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday. Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Macquarie reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Price Performance

PARA stock opened at $11.36 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The firm has a market capitalization of $7.58 billion, a PE ratio of -1.38, a P/E/G ratio of 1.68 and a beta of 1.69. The firm has a 50-day moving average of $10.81 and a two-hundred day moving average of $10.75.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) 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 for the quarter, compared to analysts’ expectations of $8.07 billion. On average, analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.76%. The ex-dividend date is Monday, March 17th. Paramount Global’s payout ratio is presently -2.43%.

Hedge Funds Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PARA. Allworth Financial LP raised its position in Paramount Global by 140.1% during the fourth 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. raised its position in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares in the last quarter. Huntington National Bank raised its position in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares in the last quarter. Ossiam raised its position in Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after acquiring an additional 1,022 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new position in Paramount Global during the fourth quarter valued at approximately $31,000. 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.