Paramount Global (NASDAQ:PARA) Receives Buy Rating from Guggenheim

Guggenheim reissued their buy rating on shares of Paramount Global (NASDAQ:PARA) in a report published on Thursday,Benzinga reports. The brokerage currently has a $14.00 price objective on the stock.

Several other research analysts have also issued reports on PARA. Macquarie reissued an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Benchmark reissued a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley upped their price target on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Paramount Global has an average rating of “Hold” and a consensus price target of $12.58.

Paramount Global Trading Up 0.2 %

PARA opened at $11.24 on Thursday. The business has a 50 day simple moving average of $10.80 and a two-hundred day simple moving average of $10.74. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of -1.37, a PEG ratio of 1.68 and a beta of 1.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.78%. Paramount Global’s dividend payout ratio is -2.43%.

Institutional Trading of Paramount Global

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. Bridgewater Associates LP boosted its stake in Paramount Global by 50.7% during the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after purchasing an additional 110,357 shares during the last quarter. Franklin Resources Inc. boosted its stake in Paramount Global by 824.1% during the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock valued at $2,029,000 after purchasing an additional 174,514 shares during the last quarter. Wilsey Asset Management Inc. boosted its stake in Paramount Global by 16.2% during the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after purchasing an additional 265,408 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Paramount Global by 22.3% during the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock valued at $7,258,000 after buying an additional 124,740 shares during the period. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

About Paramount Global

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.