Paramount Global (NASDAQ:PARA) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Paramount Global (NASDAQ:PARA) in a research report released on Tuesday, MarketBeat reports. The firm issued a sell rating and a $9.50 price target on the stock.

A number of other equities research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Paramount Global from $20.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, February 28th. Morgan Stanley dropped their target price on Paramount Global from $11.00 to $10.00 and set an underweight rating on the stock in a research report on Tuesday, February 27th. Benchmark reaffirmed a buy rating and set a $19.00 price target on shares of Paramount Global in a research report on Tuesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $13.00 to $12.00 and set an underweight rating on the stock in a report on Thursday, April 4th. Finally, Needham & Company LLC cut shares of Paramount Global from a buy rating to a hold rating in a report on Tuesday, April 30th. Ten investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $13.29.

Paramount Global Stock Up 1.3 %

Paramount Global stock opened at $10.39 on Tuesday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of -69.27, a PEG ratio of 0.30 and a beta of 1.78. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The stock has a fifty day simple moving average of $11.75 and a two-hundred day simple moving average of $12.46.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the prior year, the business earned $0.09 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts predict that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -133.33%.

Institutional Investors Weigh In On Paramount Global

A number of hedge funds have recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new stake in Paramount Global in the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC purchased a new stake in Paramount Global during the fourth quarter valued at $30,000. Archer Investment Corp bought a new position in Paramount Global during the fourth quarter valued at $30,000. Friedenthal Financial purchased a new position in shares of Paramount Global in the 4th quarter worth $39,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Paramount Global in the 4th quarter worth about $44,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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.