Paramount Global (NASDAQ:PARA) Earns Neutral Rating from Citigroup

Paramount Global (NASDAQ:PARAGet Free Report)‘s stock had its “neutral” rating reissued by equities researchers at Citigroup in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $12.00 price target on the stock, down from their prior price target of $13.00. Citigroup’s target price suggests a potential downside of 1.48% from the stock’s current price.

A number of other equities research analysts also recently weighed in on PARA. UBS Group dropped their target price on Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a report on Tuesday, April 15th. Wall Street Zen assumed coverage on shares of Paramount Global in a research report on Saturday, May 17th. They set a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, May 21st. Morgan Stanley cut their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, May 6th. Finally, Benchmark decreased their target price on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.54.

Read Our Latest Analysis on PARA

Paramount Global Stock Performance

Shares of PARA stock opened at $12.18 on Thursday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $13.05. The company has a market capitalization of $8.17 billion, a PE ratio of -1.48, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The firm has a 50 day moving average price of $11.50 and a two-hundred day moving average price of $11.17. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARAGet Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $7.19 billion for the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share. As a group, analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bell Investment Advisors Inc increased its stake in shares of Paramount Global by 100.3% in the 1st quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company’s stock valued at $27,000 after purchasing an additional 1,123 shares during the last quarter. Allworth Financial LP boosted its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares in the last quarter. Mattson Financial Services LLC acquired a new stake in Paramount Global in the fourth quarter valued at about $28,000. Ossiam grew its position in Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Paramount Global during the fourth quarter worth about $31,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Company Profile

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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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Analyst Recommendations for Paramount Global (NASDAQ:PARA)

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