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

Shares of Paramount Global (NASDAQ:PARA) have received an average recommendation of “Reduce” from the seventeen ratings firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $12.43.

Several research analysts recently commented on PARA shares. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Guggenheim cut their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th.

Paramount Global Stock Down 0.4 %

Shares of NASDAQ PARA opened at $10.40 on Friday. The stock has a market capitalization of $6.94 billion, a PE ratio of -1.27, a P/E/G ratio of 1.35 and a beta of 1.71. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average of $10.84 and a 200-day moving average of $10.76. Paramount Global has a 52-week low of $9.54 and a 52-week high of $15.70.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, analysts anticipate that Paramount Global will post 1.86 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PARA. Blue Trust Inc. grew its position in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares in the last quarter. Huntington National Bank increased its stake in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Paramount Global during the second quarter worth $35,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paramount Global in the 2nd quarter worth about $43,000. Finally, Kennebec Savings Bank acquired a new position in shares of Paramount Global in the 3rd quarter valued at about $47,000. 73.00% of the stock is owned by institutional investors and hedge funds.

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.