Analysts Set Paramount Global (NASDAQ:PARA) PT at $12.43

Shares of Paramount Global (NASDAQ:PARA) have earned an average recommendation of “Reduce” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $12.43.

Several equities analysts have recently issued reports on PARA shares. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a 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 note on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Guggenheim dropped their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th.

Institutional Trading of Paramount Global

Hedge funds have recently modified their holdings of the stock. 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 grew its stake in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the period. Atlas Capital Advisors LLC purchased a new position in shares of Paramount Global during the 2nd quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paramount Global in the 2nd quarter valued at $43,000. Finally, Kennebec Savings Bank purchased a new stake in Paramount Global during the third quarter worth $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of PARA stock opened at $10.46 on Friday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $15.70. The business’s fifty day simple moving average is $10.84 and its 200-day simple moving average is $10.75. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market cap of $6.98 billion, a PE ratio of -1.27, a PEG ratio of 1.35 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period in the prior year, the company posted $0.30 EPS. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. Analysts expect that Paramount Global will post 1.86 earnings per share for the current fiscal year.

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.