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

Research analysts at StockNews.com assumed coverage on shares of Paramount Global (NASDAQ:PARA) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

Several other brokerages have also weighed in on PARA. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Wednesday, April 2nd. Finally, Morgan Stanley boosted 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. Seven research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.92.

Paramount Global Stock Down 1.9 %

Shares of NASDAQ:PARA opened at $11.43 on Thursday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business’s 50-day moving average is $11.41 and its 200-day moving average is $11.02. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of -1.39, a P/E/G ratio of 1.68 and a beta of 1.31.

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

Hedge Funds Weigh In On Paramount Global

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