StockNews.com initiated coverage on shares of Paramount Global (NASDAQ:PARA – Get Free Report) in a report released on Wednesday. The brokerage set a “hold” rating on the stock.
PARA has been the topic of several other reports. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Wednesday, April 2nd. Guggenheim reiterated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, UBS Group dropped their target price on Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.92.
Read Our Latest Analysis on Paramount Global
Paramount Global Stock Up 2.1 %
Paramount Global (NASDAQ:PARA – Get Free Report) last posted its 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 company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Analysts predict that Paramount Global will post 1.77 EPS for the current year.
Institutional Investors Weigh In On Paramount Global
Several hedge funds have recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of 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 in the last quarter. Mattson Financial Services LLC purchased a new stake in Paramount Global in the 4th quarter worth approximately $28,000. Ossiam increased its stake in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after acquiring an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Paramount Global during the fourth quarter worth $31,000. Finally, Rakuten Securities Inc. increased its position in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other 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.
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