Needham & Company LLC Reaffirms “Hold” Rating for Paramount Global (NASDAQ:PARA)

Needham & Company LLC reiterated their hold rating on shares of Paramount Global (NASDAQ:PARA) in a research report report published on Thursday,Benzinga reports.

Other research analysts have also issued research reports about the company. Macquarie reiterated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley increased their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Up 1.1 %

Paramount Global stock opened at $11.36 on Thursday. The firm has a market capitalization of $7.58 billion, a P/E ratio of -1.38, a P/E/G ratio of 1.68 and a beta of 1.69. The company has a 50-day simple moving average of $10.81 and a 200-day simple moving average of $10.75. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Monday, March 17th. Paramount Global’s payout ratio is -2.43%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PARA. Vanguard Group Inc. boosted its stake in shares of Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock worth $701,242,000 after acquiring an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP boosted its position in shares of Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after purchasing an additional 1,593,579 shares during the period. State Street Corp boosted its position in shares of Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the period. Invesco Ltd. increased its stake in Paramount Global by 5.7% in the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock worth $215,413,000 after purchasing an additional 1,119,314 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Paramount Global by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock worth $162,731,000 after buying an additional 724,565 shares during the period. Institutional investors 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.