StockNews.com Upgrades Paramount Global (NASDAQ:PARA) to Hold

StockNews.com upgraded shares of Paramount Global (NASDAQ:PARA) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

PARA has been the topic of a number of other reports. Rosenblatt Securities reiterated a neutral rating and issued a $14.00 target price on shares of Paramount Global in a research note on Tuesday, June 4th. Evercore ISI lowered their price target on Paramount Global from $13.00 to $11.50 and set an in-line rating on the stock in a research report on Tuesday, July 9th. Benchmark reissued a buy rating and set a $19.00 price objective on shares of Paramount Global in a research report on Friday, August 9th. Wells Fargo & Company raised Paramount Global from an underweight rating to an equal weight rating and raised their target price for the company from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Guggenheim dropped their price target on Paramount Global from $19.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $12.18.

Paramount Global Stock Performance

PARA opened at $10.79 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The company has a market cap of $7.19 billion, a PE ratio of -71.93, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The stock has a 50-day moving average of $10.71 and a 200-day moving average of $11.31. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. As a group, equities research analysts forecast that Paramount Global will post 1.57 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is -133.32%.

Institutional Investors Weigh In On Paramount Global

Several large investors have recently modified their holdings of PARA. Atlas Capital Advisors LLC acquired a new stake in Paramount Global in the 2nd quarter valued at $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paramount Global in the 2nd quarter valued at $43,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Paramount Global in the 4th quarter worth about $44,000. SageView Advisory Group LLC acquired a new stake in shares of Paramount Global during the 1st quarter worth about $56,000. Finally, GAMMA Investing LLC lifted its holdings in Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after purchasing an additional 1,067 shares during the last quarter. 73.00% of the stock is currently owned by 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.