Morgan Stanley Issues Positive Forecast for Paramount Global (NASDAQ:PARA) Stock Price

Paramount Global (NASDAQ:PARA) had its price target raised by Morgan Stanley from $10.00 to $11.00 in a research note released on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

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

Paramount Global Price Performance

Shares of PARA stock opened at $10.92 on Tuesday. 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 $14.54. The firm has a market cap of $7.28 billion, a P/E ratio of -1.33, a P/E/G ratio of 1.58 and a beta of 1.69. The business’s 50 day moving average price is $10.75 and its 200-day moving average price is $10.72.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. On average, equities research analysts anticipate that Paramount Global will post 1.78 earnings per share for the current year.

Institutional Trading of Paramount Global

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning boosted its position in shares of Paramount Global by 75.7% during the second quarter. Creative Planning now owns 172,937 shares of the company’s stock valued at $1,797,000 after buying an additional 74,535 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Paramount Global by 8.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after acquiring an additional 1,356 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Paramount Global during the second quarter valued at approximately $229,000. Czech National Bank raised its holdings in shares of Paramount Global by 28.6% during the third quarter. Czech National Bank now owns 121,149 shares of the company’s stock valued at $1,287,000 after purchasing an additional 26,944 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Paramount Global by 27.3% during the third quarter. Handelsbanken Fonder AB now owns 132,400 shares of the company’s stock valued at $1,406,000 after purchasing an additional 28,400 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Company Profile

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.