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

Guggenheim restated their buy rating on shares of Paramount Global (NASDAQ:PARA) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Morgan Stanley upped their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday. Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Up 1.1 %

PARA stock opened at $11.36 on Thursday. The stock has a market capitalization of $7.58 billion, a P/E ratio of -1.38, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. 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 12 month low of $9.54 and a 12 month high of $14.54. The firm has a 50-day moving average price of $10.81 and a 200-day moving average price of $10.75.

Paramount Global (NASDAQ:PARA) last posted its 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). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. As a group, equities research analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

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

Hedge Funds Weigh In On Paramount Global

Institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Paramount Global during the 4th quarter worth about $911,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Paramount Global by 24.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 12,695 shares of the company’s stock worth $133,000 after purchasing an additional 2,512 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Paramount Global during the 4th quarter worth about $5,688,000. Waverly Advisors LLC bought a new position in shares of Paramount Global during the 4th quarter worth about $106,000. Finally, Woodline Partners LP bought a new position in shares of Paramount Global during the 4th quarter worth about $11,096,000. 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.