Paramount Global’s (PARA) Underperform Rating Reaffirmed at Macquarie

Macquarie reissued their underperform rating on shares of Paramount Global (NASDAQ:PARA) in a research report released on Monday morning,Benzinga reports. Macquarie currently has a $10.00 target price on the stock.

A number of other research firms have also weighed in on PARA. JPMorgan Chase & Co. dropped their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Guggenheim dropped their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. StockNews.com lowered shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.40.

Paramount Global Stock Down 2.0 %

Shares of Paramount Global stock traded down $0.23 during trading hours on Monday, reaching $11.32. The company’s stock had a trading volume of 299,484 shares, compared to its average volume of 14,845,426. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The company has a market capitalization of $7.55 billion, a P/E ratio of -1.41, a P/E/G ratio of 1.66 and a beta of 1.74. The stock’s fifty day simple moving average is $10.54 and its two-hundred day simple moving average is $11.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, research analysts forecast that Paramount Global will post 1.61 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.77%. Paramount Global’s payout ratio is -2.43%.

Institutional Investors Weigh In On Paramount Global

A number of institutional investors and hedge funds have recently made changes to their positions in PARA. Landscape Capital Management L.L.C. raised its stake in Paramount Global by 200.1% in the third quarter. Landscape Capital Management L.L.C. now owns 194,166 shares of the company’s stock valued at $2,062,000 after purchasing an additional 129,470 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Paramount Global during the 3rd quarter valued at about $117,000. Commerce Bank grew its position in Paramount Global by 18.0% during the 3rd quarter. Commerce Bank now owns 13,972 shares of the company’s stock worth $148,000 after acquiring an additional 2,133 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in Paramount Global in the 3rd quarter worth approximately $5,186,000. Finally, PNC Financial Services Group Inc. lifted its position in Paramount Global by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after purchasing an additional 1,481 shares during the last quarter. Hedge funds and other 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.