Paramount Global (NASDAQ:PARA) Given Average Rating of “Reduce” by Analysts

Paramount Global (NASDAQ:PARA) has been given an average recommendation of “Reduce” by the fifteen analysts that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.50.

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Macquarie restated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th.

Paramount Global Stock Up 1.8 %

PARA stock opened at $11.07 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.38 billion, a P/E ratio of -1.35, a P/E/G ratio of 1.53 and a beta of 1.70. The stock’s fifty day simple moving average is $10.72 and its two-hundred day simple moving average is $10.76. Paramount Global has a 1-year low of $9.54 and a 1-year high of $15.70.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. Analysts expect that Paramount Global will post 1.78 EPS for the current year.

Institutional Investors Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Carson Advisory Inc. raised its position in shares of Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after buying an additional 1,004 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Paramount Global by 8.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after buying an additional 1,356 shares during the last quarter. Stonehearth Capital Management LLC lifted its stake in shares of Paramount Global by 9.3% during the third quarter. Stonehearth Capital Management LLC now owns 16,182 shares of the company’s stock worth $172,000 after buying an additional 1,374 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after purchasing an additional 1,481 shares during the period. Finally, Huntington National Bank grew its position in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the period. 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.