Paramount Global’s (PARA) Underperform Rating Reaffirmed at Macquarie

Macquarie reissued their underperform rating on shares of Paramount Global (NASDAQ:PARA) in a report issued on Monday,Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday. Guggenheim decreased their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Stock Up 1.7 %

Paramount Global stock opened at $11.35 on Monday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. 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 firm has a 50-day moving average of $10.60 and a 200-day moving average of $11.09.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, equities analysts expect that Paramount Global will post 1.81 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.76%. Paramount Global’s payout ratio is -2.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PARA. Blue Trust Inc. grew its holdings in Paramount Global by 162.8% during the 3rd 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 in the last quarter. Huntington National Bank raised its stake in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC bought a new position in Paramount Global during the second quarter valued at $35,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paramount Global in the 2nd quarter worth about $43,000. Finally, Kennebec Savings Bank bought a new position in shares of Paramount Global in the 3rd quarter valued at about $47,000. 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.