Paramount Global (NASDAQ:PARA) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Paramount Global (NASDAQ:PARA) in a research report sent to investors on Sunday morning. The brokerage issued a hold rating on the stock.

Several other research analysts also recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Morgan Stanley raised 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. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Paramount Global currently has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Price Performance

Paramount Global stock opened at $11.73 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $7.82 billion, a P/E ratio of -1.43, a PEG ratio of 1.68 and a beta of 1.60. The firm has a fifty day moving average of $11.34 and a 200-day moving average of $10.92. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. As a group, analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Institutional Investors Weigh In On Paramount Global

Several institutional investors and hedge funds have recently bought and sold shares of PARA. Allworth Financial LP grew its holdings in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Mattson Financial Services LLC bought a new position in Paramount Global during the 4th quarter worth $28,000. Ossiam increased its position in Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after buying an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in Paramount Global in the fourth quarter valued at $31,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after acquiring an additional 2,019 shares during the period. 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.