Paramount Global (NASDAQ:PARA) Price Target Cut to $11.50

Paramount Global (NASDAQ:PARA) had its target price trimmed by Evercore ISI from $13.00 to $11.50 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other equities analysts have also recently issued reports on PARA. StockNews.com upgraded Paramount Global from a sell rating to a hold rating in a research report on Wednesday, May 8th. Benchmark reaffirmed a buy rating and set a $19.00 price target on shares of Paramount Global in a report on Tuesday. Needham & Company LLC lowered shares of Paramount Global from a buy rating to a hold rating in a research report on Tuesday, April 30th. Rosenblatt Securities restated a neutral rating and set a $14.00 price objective on shares of Paramount Global in a research report on Tuesday, June 4th. Finally, Argus downgraded shares of 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 given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Paramount Global currently has a consensus rating of Hold and a consensus price target of $12.83.

Paramount Global Trading Down 1.4 %

Shares of NASDAQ PARA opened at $11.56 on Tuesday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The stock has a 50 day moving average of $11.53 and a two-hundred day moving average of $12.17. 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 (NASDAQ:PARA) last released its quarterly earnings results on Monday, April 29th. The company reported $0.62 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 firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. Paramount Global’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts expect that Paramount Global will post 1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Paramount Global

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in shares of Paramount Global by 9.1% during the 4th quarter. Amalgamated Bank now owns 145,473 shares of the company’s stock valued at $2,152,000 after buying an additional 12,174 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Paramount Global by 541.7% in the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock valued at $10,481,000 after purchasing an additional 598,235 shares in the last quarter. Caprock Group LLC grew its holdings in shares of Paramount Global by 2.9% during the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock worth $746,000 after purchasing an additional 1,401 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Paramount Global by 19.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 57,368 shares of the company’s stock valued at $848,000 after buying an additional 9,512 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in Paramount Global by 1,201.5% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock valued at $1,282,000 after buying an additional 78,100 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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.