Paramount Global (NASDAQ:PARA) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Paramount Global (NASDAQ:PARA) in a report published on Saturday morning. The brokerage issued a hold rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.10.

Paramount Global Stock Down 1.9 %

Shares of Paramount Global stock opened at $11.64 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $11.18 and a 200 day moving average price of $10.85. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The firm has a market cap of $7.76 billion, a P/E ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60.

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

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PARA. Allworth Financial LP boosted its stake in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the period. Mattson Financial Services LLC acquired a new position in shares of Paramount Global during the 4th quarter valued at about $28,000. Ossiam raised its position in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after purchasing an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global in the 4th quarter worth $31,000. Finally, Rakuten Securities Inc. lifted its position in Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after acquiring an additional 2,019 shares during the last quarter. 73.00% of the stock is 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.