Paramount Global (NASDAQ:PARA) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of Paramount Global (NASDAQ:PARA) in a research note issued on Saturday. The brokerage set a “hold” rating on the stock.

A number of other analysts also recently issued reports on the stock. Morgan Stanley increased their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Guggenheim reiterated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Performance

Shares of PARA stock opened at $11.86 on Friday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. 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 stock has a market cap of $7.91 billion, a PE ratio of -1.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The business has a 50-day simple moving average of $11.16 and a 200-day simple moving average of $10.84.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PARA. Ossiam grew its holdings in shares of Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after buying an additional 1,022 shares in the last quarter. Allworth Financial LP boosted its position in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Paramount Global by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after acquiring an additional 1,481 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Paramount Global by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company’s stock valued at $2,722,000 after acquiring an additional 1,640 shares during the last quarter. Finally, Norinchukin Bank The lifted its stake in Paramount Global by 6.8% in the 4th quarter. Norinchukin Bank The now owns 25,793 shares of the company’s stock worth $270,000 after purchasing an additional 1,640 shares in the last quarter. 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.