Paramount Global (NASDAQ:PARA) Receives Consensus Rating of “Reduce” from Brokerages

Paramount Global (NASDAQ:PARA) has been given a consensus recommendation of “Reduce” by the twenty ratings firms that are presently covering the stock, Marketbeat.com reports. Ten equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $12.18.

A number of equities analysts have recently commented on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on shares of Paramount Global in a research report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price target for the company. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday. Guggenheim reduced their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Evercore ISI lowered their price target on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a report on Tuesday, July 9th.

Paramount Global Stock Performance

Shares of PARA stock opened at $10.55 on Thursday. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of -70.33, a PEG ratio of 0.57 and a beta of 1.75. The company’s fifty day simple moving average is $10.74 and its two-hundred day simple moving average is $11.32. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. As a group, analysts anticipate that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s dividend payout ratio (DPR) is presently -133.33%.

Institutional Trading of Paramount Global

Several hedge funds and other institutional investors have recently bought and sold shares of PARA. Lingotto Investment Management LLP boosted its position in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares during the period. Kodai Capital Management LP purchased a new stake in shares of Paramount Global during the fourth quarter worth about $84,842,000. Vanguard Group Inc. boosted its holdings in shares of Paramount Global by 6.5% during the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after purchasing an additional 3,803,928 shares during the period. Capitolis Liquid Global Markets LLC bought a new stake in shares of Paramount Global in the first quarter worth about $33,191,000. Finally, Norges Bank purchased a new position in Paramount Global during the 4th quarter valued at about $41,497,000. Institutional investors own 73.00% of the company’s stock.

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.