Paramount Global (NASDAQ:PARA) Now Covered by Analysts at StockNews.com

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

A number of other research firms also recently issued reports on PARA. Guggenheim reaffirmed a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Morgan Stanley upped their price target 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. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $11.86 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 firm has a fifty day moving average price of $11.16 and a 200 day moving average price of $10.84. 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 $7.91 billion, a price-to-earnings ratio of -1.44, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, sell-side analysts expect 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 issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, March 17th. Paramount Global’s payout ratio is presently -2.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Contrarius Group Holdings Ltd bought a new position in Paramount Global during the 4th quarter worth about $146,230,000. State Street Corp boosted its holdings in shares of Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Norges Bank bought a new stake in shares of Paramount Global in the 4th quarter valued at about $45,202,000. Slate Path Capital LP boosted its holdings in shares of Paramount Global by 42.3% in the 4th quarter. Slate Path Capital LP now owns 12,586,000 shares of the company’s stock valued at $131,650,000 after buying an additional 3,741,000 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Paramount Global in the 4th quarter valued at about $21,229,000. 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.