Morgan Stanley Issues Positive Forecast for Paramount Global (NASDAQ:PARA) Stock Price

Paramount Global (NASDAQ:PARA) had its target price lifted by Morgan Stanley from $10.00 to $11.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other analysts have also issued reports on PARA. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Macquarie reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.58.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.84 on Tuesday. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.58 and a beta of 1.69. The business has a 50 day moving average of $10.76 and a 200 day moving average of $10.72. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts predict that Paramount Global will post 1.78 earnings per share for the current fiscal year.

Institutional Trading of Paramount Global

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Carson Advisory Inc. grew its holdings in shares of Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after acquiring an additional 1,004 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in Paramount Global by 8.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after purchasing an additional 1,356 shares during the period. Allworth Financial LP raised its holdings in Paramount Global by 140.1% in 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 in the last quarter. PNC Financial Services Group Inc. lifted its position 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 valued at $977,000 after buying an additional 1,481 shares during the period. Finally, Huntington National Bank boosted its holdings 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 valued at $29,000 after buying an additional 1,561 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Company Profile

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.