Paramount Global (NASDAQ:PARA) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Paramount Global (NASDAQ:PARA) in a report released on Sunday morning. The firm issued a hold rating on the stock.

Other analysts have also issued reports about the stock. Morgan Stanley upped their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Down 1.9 %

PARA opened at $11.73 on Friday. The stock’s 50 day moving average price is $11.34 and its 200 day moving average price is $10.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market cap of $7.82 billion, a P/E ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.60. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, research analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global’s payout ratio is -2.15%.

Institutional Investors Weigh In On Paramount Global

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Paramount Global by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock valued at $80,993,000 after purchasing an additional 348,298 shares during the period. Bridgewater Associates LP raised its position in Paramount Global by 50.7% during the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after buying an additional 110,357 shares during the period. Franklin Resources Inc. lifted its stake in Paramount Global by 824.1% in the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after acquiring an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. boosted its position in Paramount Global by 16.2% during the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after acquiring an additional 265,408 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after acquiring an additional 908,515 shares in the last quarter. 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.