Paramount Global (NASDAQ:PARA) Given Buy Rating at Guggenheim

Guggenheim restated their buy rating on shares of Paramount Global (NASDAQ:PARAFree Report) in a report released on Thursday morning,Benzinga reports. The firm currently has a $14.00 price objective on the stock.

A number of other research firms have also recently weighed in on PARA. UBS Group decreased their price objective on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research report on Tuesday, April 15th. Benchmark lowered their price objective on Paramount Global from $19.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Citigroup reiterated a “neutral” rating and set a $12.00 price target (down from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a sell rating, six 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 currently has an average rating of “Hold” and an average target price of $11.50.

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Paramount Global Stock Performance

Shares of PARA stock opened at $12.32 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84. The company has a market cap of $8.31 billion, a PE ratio of -1.50, a P/E/G ratio of 3.69 and a beta of 1.19. The company’s fifty day simple moving average is $11.84 and its 200-day simple moving average is $11.33. Paramount Global has a 52 week low of $9.93 and a 52 week high of $12.54.

Paramount Global (NASDAQ:PARAGet Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. As a group, equities research analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.62%. Paramount Global’s payout ratio is presently -2.43%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allworth Financial LP raised 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 in the last quarter. Bell Investment Advisors Inc raised its stake in shares of Paramount Global by 100.3% in the first quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company’s stock valued at $27,000 after acquiring an additional 1,123 shares during the last quarter. Mattson Financial Services LLC acquired a new position in shares of Paramount Global in the 4th quarter worth approximately $28,000. Ossiam grew its position in Paramount Global by 57.2% during the 4th 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. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Paramount Global during the 4th quarter valued at $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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