Paramount Global (NASDAQ:PARA) PT Lowered to $11.50

Paramount Global (NASDAQ:PARAGet Free Report) had its target price decreased by Evercore ISI from $13.00 to $11.50 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential downside of 1.71% from the company’s current price.

PARA has been the topic of a number of other research reports. Seaport Res Ptn downgraded Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Tuesday. Wells Fargo & Company downgraded Paramount Global from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $14.00 to $9.00 in a research note on Wednesday, June 12th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Argus cut Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Eleven analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.83.

Check Out Our Latest Stock Analysis on PARA

Paramount Global Stock Up 1.5 %

Paramount Global stock opened at $11.70 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The business’s 50-day simple moving average is $11.60 and its two-hundred day simple moving average is $12.19. The company has a market cap of $7.80 billion, a PE ratio of -77.99, a PEG ratio of 0.37 and a beta of 1.78. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

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

Institutional Investors Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently made changes to their positions in PARA. Kodai Capital Management LP acquired a new stake in shares of Paramount Global in the fourth quarter valued at approximately $84,842,000. Vanguard Group Inc. increased its holdings in shares of Paramount Global by 6.5% in the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after purchasing an additional 3,803,928 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in shares of Paramount Global in the first quarter valued at approximately $33,191,000. Norges Bank acquired a new stake in shares of Paramount Global in the fourth quarter valued at approximately $41,497,000. Finally, Lingotto Investment Management LLP increased its holdings in shares of Paramount Global by 375.8% in the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock valued at $48,388,000 after purchasing an additional 2,577,978 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Company Profile

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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.

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Analyst Recommendations for Paramount Global (NASDAQ:PARA)

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