Paramount Global (NASDAQ:PARA) Rating Lowered to Sell at Argus

Argus lowered shares of Paramount Global (NASDAQ:PARA) from a hold rating to a sell rating in a report released on Friday, Marketbeat Ratings reports.

Several other equities research analysts have also recently weighed in on the company. Wolfe Research upgraded Paramount Global from an underperform rating to a peer perform rating in a report on Thursday, April 4th. Needham & Company LLC lowered Paramount Global from a buy rating to a hold rating in a research note on Tuesday, April 30th. StockNews.com downgraded shares of Paramount Global from a hold rating to a sell rating in a research note on Tuesday, April 30th. Wells Fargo & Company dropped their price target on shares of Paramount Global from $15.00 to $14.00 and set an equal weight rating for the company in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $13.00 to $12.00 and set an underweight rating on the stock in a research report on Thursday, April 4th. Ten equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $13.58.

Paramount Global Stock Up 3.1 %

Shares of NASDAQ PARA opened at $13.29 on Friday. Paramount Global has a one year low of $10.12 and a one year high of $17.50. The firm’s 50 day simple moving average is $11.60 and its two-hundred day simple moving average is $12.90. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Paramount Global will post 1.32 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

Hedge Funds Weigh In On Paramount Global

Several large investors have recently made changes to their positions in the business. VisionPoint Advisory Group LLC purchased a new position in Paramount Global during the third quarter valued at $25,000. Archer Investment Corp purchased a new position in shares of Paramount Global in the 4th quarter worth about $30,000. Anchor Investment Management LLC bought a new position in Paramount Global in the 4th quarter worth about $30,000. WFA of San Diego LLC grew its position in Paramount Global by 635.0% during the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in Paramount Global during the 4th quarter valued at about $39,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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.