Paramount Global (NASDAQ:PARA) Receives $12.10 Average Price Target from Brokerages

Shares of Paramount Global (NASDAQ:PARA) have earned an average rating of “Reduce” from the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $12.10.

A number of research analysts have issued reports on PARA shares. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley increased their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Guggenheim reiterated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ossiam boosted its holdings in Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after purchasing an additional 1,022 shares during the last quarter. Allworth Financial LP boosted its holdings in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after purchasing an additional 1,481 shares during the last quarter. Huntington National Bank boosted its holdings in Paramount Global by 129.0% during the third 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 last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Paramount Global by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company’s stock worth $2,722,000 after purchasing an additional 1,640 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Up 0.7 %

Paramount Global stock opened at $11.74 on Thursday. The stock has a market cap of $7.83 billion, a P/E ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company’s 50-day moving average price is $11.10 and its two-hundred day moving average price is $10.82.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate 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, analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio is currently -2.15%.

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.