Paramount Global (NASDAQ:PARA – Get Free Report) has earned a consensus rating of “Reduce” from the sixteen research firms that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.16.
PARA has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Paramount Global in a report on Thursday, August 17th. They issued a “sell” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Paramount Global in a report on Tuesday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Paramount Global from $16.00 to $17.00 and gave the stock an “underweight” rating in a report on Tuesday, August 8th. UBS Group reduced their price target on shares of Paramount Global from $15.00 to $14.00 in a research report on Wednesday, July 5th. Finally, Evercore ISI reduced their price target on shares of Paramount Global from $18.00 to $15.00 and set an “in-line” rating on the stock in a research report on Monday, July 24th.
Paramount Global Stock Up 2.0 %
Shares of NASDAQ:PARA opened at $14.06 on Friday. The company’s fifty day moving average is $15.03 and its 200-day moving average is $17.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.17. Paramount Global has a 52 week low of $12.84 and a 52 week high of $25.93. The company has a market capitalization of $9.15 billion, a PE ratio of -7.48, a P/E/G ratio of 5.31 and a beta of 1.66.
Paramount Global (NASDAQ:PARA – Get Free Report) last posted its earnings results on Monday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.11. Paramount Global had a negative net margin of 3.89% and a positive return on equity of 2.15%. The business had revenue of $7.62 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities research analysts predict that Paramount Global will post 0.46 earnings per share for the current fiscal year.
Paramount Global Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.42%. Paramount Global’s payout ratio is presently -10.64%.
Institutional Trading of Paramount Global
Hedge funds have recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its position in shares of Paramount Global by 130.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the company’s stock valued at $27,000 after acquiring an additional 685 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Paramount Global in the 4th quarter valued at approximately $29,000. Cornerstone Planning Group LLC acquired a new stake in shares of Paramount Global in the 2nd quarter valued at approximately $30,000. ICA Group Wealth Management LLC acquired a new stake in shares of Paramount Global in the 4th quarter valued at approximately $32,000. Finally, Pacific Center for Financial Services acquired a new stake in shares of Paramount Global in the 1st quarter valued at approximately $35,000. 72.39% of the stock is currently owned by institutional investors and hedge funds.
About Paramount Global
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.
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