Paramount Global (NASDAQ:PARA) Receives $12.57 Consensus PT from Analysts

Paramount Global (NASDAQ:PARA) has been assigned a consensus recommendation of “Reduce” from the eighteen analysts that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $12.40.

Several analysts recently commented on the company. Guggenheim cut their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday. JPMorgan Chase & Co. cut their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Paramount Global by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after buying an additional 934 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Paramount Global by 19.5% during the 1st quarter. Private Advisor Group LLC now owns 56,535 shares of the company’s stock valued at $665,000 after purchasing an additional 9,211 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Paramount Global by 14.5% during the first quarter. Daiwa Securities Group Inc. now owns 48,621 shares of the company’s stock valued at $572,000 after purchasing an additional 6,151 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Paramount Global by 4.3% in the first quarter. Texas Permanent School Fund Corp now owns 99,705 shares of the company’s stock worth $1,174,000 after purchasing an additional 4,152 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Paramount Global by 1.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 160,114 shares of the company’s stock worth $1,885,000 after buying an additional 2,440 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $11.35 on Friday. The business has a 50-day simple moving average of $10.60 and a two-hundred day simple moving average of $11.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of -1.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.74. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

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

Paramount Global Dividend Announcement

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

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.