Paramount Global (NASDAQ:PARA) Stock Rating Reaffirmed by Benchmark

Paramount Global (NASDAQ:PARA)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $19.00 price objective on the stock. Benchmark’s price target would indicate a potential upside of 62.39% from the stock’s previous close.

Several other equities analysts have also recently weighed in on PARA. Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. JPMorgan Chase & Co. cut their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Needham & Company LLC cut shares of Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Wolfe Research cut shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective for the company. in a research note on Tuesday. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Eleven investment 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. According to MarketBeat, Paramount Global has an average rating of “Hold” and a consensus target price of $12.83.

Paramount Global Stock Up 1.5 %

PARA opened at $11.70 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average price of $11.60 and a 200-day moving average price of $12.19. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of -77.99, a PEG ratio of 0.37 and a beta of 1.78.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.28. The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Equities research analysts forecast that Paramount Global will post 1.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PARA. Kodai Capital Management LP acquired a new position in shares of Paramount Global during the fourth quarter worth about $84,842,000. Vanguard Group Inc. increased its stake 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 acquiring an additional 3,803,928 shares during the period. Capitolis Liquid Global Markets LLC purchased a new stake in Paramount Global during the first quarter worth about $33,191,000. Norges Bank purchased a new stake in Paramount Global during the fourth quarter worth about $41,497,000. Finally, Lingotto Investment Management LLP boosted its holdings in Paramount Global by 375.8% during the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock worth $48,388,000 after buying an additional 2,577,978 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.