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

StockNews.com started coverage on shares of Paramount Global (NASDAQ:PARA) in a report issued on Sunday. The firm issued a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley raised their price target 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. Finally, Benchmark restated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.10.

Paramount Global Price Performance

Shares of PARA opened at $11.56 on Friday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The firm’s 50-day simple moving average is $11.28 and its two-hundred day simple moving average is $10.90. The stock has a market cap of $7.71 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. 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 posted 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 positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Ossiam lifted its stake in shares of Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after purchasing an additional 1,022 shares during the period. Allworth Financial LP increased its holdings in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Paramount Global by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company’s stock worth $2,722,000 after acquiring an additional 1,640 shares during the period. Norinchukin Bank The boosted its stake in shares of Paramount Global by 6.8% during the 4th quarter. Norinchukin Bank The now owns 25,793 shares of the company’s stock worth $270,000 after acquiring an additional 1,640 shares during the last quarter. Finally, Insight Inv LLC boosted its stake in shares of Paramount Global by 9.8% during the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after acquiring an additional 1,825 shares during the last quarter. 73.00% of the stock is 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.