Paramount Global (NASDAQ:PARA) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Paramount Global (NASDAQ:PARA) from a sell rating to a hold rating in a research report report published on Monday morning.

PARA has been the topic of several other research reports. Macquarie reissued an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.40.

Paramount Global Trading Up 4.3 %

PARA opened at $11.55 on Monday. The stock has a 50-day moving average of $10.54 and a 200 day moving average of $11.09. The company has a current ratio of 1.30, a quick ratio of 1.15 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 $17.50. The firm has a market cap of $7.70 billion, a P/E ratio of -1.41, a P/E/G ratio of 1.66 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Paramount Global will post 1.61 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. Paramount Global’s dividend payout ratio is currently -2.43%.

Institutional Trading of Paramount Global

A number of hedge funds have recently bought and sold shares of PARA. Blue Trust Inc. lifted its position in shares of 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 buying an additional 1,573 shares during the last quarter. Huntington National Bank boosted its stake in Paramount Global by 129.0% in 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. Atlas Capital Advisors LLC purchased a new position in Paramount Global in the second quarter worth $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the second quarter worth $43,000. Finally, Kennebec Savings Bank acquired a new position in shares of Paramount Global during the third quarter worth $47,000. Hedge funds and other 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.