Paramount Global (NASDAQ:PARA) Receives Consensus Recommendation of “Reduce” from Brokerages

Paramount Global (NASDAQ:PARA) has received a consensus rating of “Reduce” from the ten research firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.67.

PARA has been the topic of several recent research reports. Citigroup reaffirmed a “neutral” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. UBS Group cut their target price on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley cut their target price on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, May 6th. Benchmark cut their target price on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft lowered 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 note on Wednesday, April 2nd.

Paramount Global Trading Down 0.3%

NASDAQ PARA opened at $12.96 on Wednesday. The company’s fifty day simple moving average is $12.21 and its 200-day simple moving average is $11.51. Paramount Global has a 52 week low of $9.95 and a 52 week high of $13.29. 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 stock has a market cap of $8.74 billion, a P/E ratio of -1.57, a PEG ratio of 3.94 and a beta of 1.19.

Paramount Global (NASDAQ:PARA) last released its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities research analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.54%. Paramount Global’s dividend payout ratio is presently -2.43%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc increased its stake in 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 buying an additional 1,123 shares during the period. Mattson Financial Services LLC acquired a new position in Paramount Global in the 4th quarter valued at approximately $28,000. Ossiam increased its stake in Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after buying an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Paramount Global in the 4th quarter valued at approximately $31,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Paramount Global in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.