Paramount Global (NASDAQ:PARA) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Paramount Global (NASDAQ:PARA) from a sell rating to a hold rating in a research report report published on Wednesday morning.

A number of other research firms have also recently issued reports on PARA. Deutsche Bank Aktiengesellschaft lowered their price objective on Paramount Global from $20.00 to $15.00 and set a buy rating on the stock in a research report on Wednesday, February 28th. Rosenblatt Securities reiterated a neutral rating and issued a $13.00 price target on shares of Paramount Global in a research report on Tuesday. Redburn Atlantic cut Paramount Global from a neutral rating to a sell rating and lowered their price target for the company from $17.00 to $11.00 in a research report on Thursday, January 11th. Wolfe Research upgraded Paramount Global from an underperform rating to a peer perform rating in a research report on Thursday, April 4th. Finally, Needham & Company LLC reiterated a buy rating and issued a $15.00 price target on shares of Paramount Global in a research report on Thursday, February 29th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $13.79.

Paramount Global Stock Down 4.3 %

PARA opened at $10.50 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The business has a 50 day moving average price of $11.88 and a 200 day moving average price of $12.93. The firm has a market cap of $6.85 billion, a P/E ratio of -10.29, a price-to-earnings-growth ratio of 0.41 and a beta of 1.77. Paramount Global has a twelve month low of $10.12 and a twelve month high of $24.00.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.09. The company had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. Research analysts forecast that Paramount Global will post 1.17 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Thursday, March 14th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

Hedge Funds Weigh In On Paramount Global

Large investors have recently made changes to their positions in the company. Pacific Center for Financial Services acquired a new position in shares of Paramount Global during the first quarter valued at $35,000. ICA Group Wealth Management LLC acquired a new position in shares of Paramount Global during the fourth quarter valued at $32,000. Cornerstone Planning Group LLC acquired a new position in Paramount Global in the second quarter valued at about $30,000. VisionPoint Advisory Group LLC acquired a new position in Paramount Global in the third quarter valued at about $25,000. Finally, Archer Investment Corp acquired a new position in Paramount Global in the fourth quarter valued at about $30,000. 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.