Analysts Set Paramount Global (NASDAQ:PARA) Price Target at $12.50

Paramount Global (NASDAQ:PARAGet Free Report) has earned an average recommendation of “Reduce” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $12.50.

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th.

Read Our Latest Analysis on Paramount Global

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. SOL Capital Management CO grew its stake in Paramount Global by 1.6% in the fourth quarter. SOL Capital Management CO now owns 180,604 shares of the company’s stock worth $1,889,000 after purchasing an additional 2,830 shares during the period. Synergy Asset Management LLC bought a new position in shares of Paramount Global in the 4th quarter worth about $88,000. R Squared Ltd purchased a new position in Paramount Global during the 4th quarter valued at about $154,000. Perigon Wealth Management LLC boosted its stake in Paramount Global by 7.0% during the fourth quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock worth $293,000 after acquiring an additional 1,874 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in Paramount Global by 27.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 33,254 shares of the company’s stock worth $348,000 after purchasing an additional 7,167 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 1.8 %

Shares of PARA stock opened at $11.07 on Wednesday. The company has a market capitalization of $7.38 billion, a PE ratio of -1.35, a price-to-earnings-growth ratio of 1.53 and a beta of 1.70. Paramount Global has a 52-week low of $9.54 and a 52-week high of $15.70. The business’s fifty day moving average is $10.72 and its 200 day moving average is $10.77. 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:PARAGet Free Report) last issued 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. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter last year, the company posted $0.30 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Paramount Global will post 1.78 EPS for the current fiscal year.

About Paramount Global

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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.

Further Reading

Analyst Recommendations for Paramount Global (NASDAQ:PARA)

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