Paramount Global (NASDAQ:PARA) Given New $11.00 Price Target at Morgan Stanley

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

A number of other equities analysts have also commented on PARA. Macquarie reissued 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, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus price target of $12.58.

Get Our Latest Stock Report on Paramount Global

Paramount Global Stock Up 1.8 %

PARA opened at $10.92 on Tuesday. The firm’s 50 day simple moving average is $10.75 and its two-hundred day simple moving average is $10.72. The company has a market capitalization of $7.28 billion, a PE ratio of -1.33, a PEG ratio of 1.58 and a beta of 1.69. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARAGet Free Report) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping 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 firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter last year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Paramount Global will post 1.78 EPS for the current year.

Institutional Investors Weigh In On Paramount Global

Several large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in shares of Paramount Global by 75.7% in the second quarter. Creative Planning now owns 172,937 shares of the company’s stock valued at $1,797,000 after purchasing an additional 74,535 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Paramount Global by 8.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after buying an additional 1,356 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Paramount Global in the second quarter valued at about $229,000. Czech National Bank grew its holdings in Paramount Global by 28.6% during the 3rd quarter. Czech National Bank now owns 121,149 shares of the company’s stock worth $1,287,000 after acquiring an additional 26,944 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Paramount Global by 27.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 132,400 shares of the company’s stock valued at $1,406,000 after purchasing an additional 28,400 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

About Paramount Global

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Paramount Global (NASDAQ:PARA)

Receive News & Ratings for Paramount Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Global and related companies with MarketBeat.com's FREE daily email newsletter.