Paramount Global (NASDAQ:PARA) Receives Average Recommendation of “Reduce” from Brokerages

Paramount Global (NASDAQ:PARA) has been given a consensus rating of “Reduce” by the seventeen analysts that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $12.43.

PARA has been the topic of a number of research reports. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim reduced their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Macquarie restated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in shares of Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after buying an additional 1,573 shares during the last quarter. Huntington National Bank increased its holdings in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the period. Atlas Capital Advisors LLC purchased a new position in shares of Paramount Global in the second quarter worth about $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paramount Global during the second quarter worth about $43,000. Finally, Kennebec Savings Bank purchased a new stake in Paramount Global in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Paramount Global stock opened at $10.67 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $7.12 billion, a PE ratio of -1.30, a P/E/G ratio of 1.35 and a beta of 1.70. The company has a 50 day moving average price of $10.86 and a 200-day moving average price of $10.76. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $15.70.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. As a group, equities analysts forecast that Paramount Global will post 1.86 earnings per share for the current year.

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.