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

StockNews.com initiated coverage on shares of Paramount Global (NASDAQ:PARA) in a research report sent to investors on Thursday. The firm issued a hold rating on the stock.

A number of other research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. UBS Group reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Benchmark reissued a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley lifted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research report on Wednesday, April 2nd. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.92.

Paramount Global Stock Down 1.9 %

Shares of NASDAQ:PARA opened at $11.43 on Thursday. The company has a market cap of $7.62 billion, a PE ratio of -1.39, a P/E/G ratio of 1.68 and a beta of 1.31. Paramount Global has a 1 year low of $9.54 and a 1 year high of $13.79. The stock’s 50-day moving average is $11.41 and its 200 day moving average is $11.03. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data 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). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Sell-side analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.75%. Paramount Global’s dividend payout ratio is -2.15%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock worth $80,993,000 after buying an additional 348,298 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 174,514 shares during the last quarter. Wilsey Asset Management Inc. grew its position in Paramount Global by 16.2% in the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after purchasing an additional 265,408 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after buying an additional 908,515 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Paramount Global in the fourth quarter worth $5,457,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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.