Paramount Global (NASDAQ:PARA) Cut to “Hold” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global (NASDAQ:PARA) from a buy rating to a hold rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have $12.00 target price on the stock.

PARA has been the topic of several other research reports. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley boosted their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Finally, StockNews.com initiated coverage on Paramount Global in a research report on Sunday, March 30th. They issued a “hold” rating for the company. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.09.

Paramount Global Price Performance

PARA opened at $11.07 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The stock has a fifty day moving average price of $11.38 and a 200 day moving average price of $10.93. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of -1.35, a PEG ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) 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 firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.81%. The ex-dividend date was Monday, March 17th. Paramount Global’s payout ratio is -2.15%.

Institutional Trading of Paramount Global

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock valued at $701,242,000 after purchasing an additional 761,561 shares during the last quarter. Lingotto Investment Management LLP lifted its stake 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% during 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 in the last quarter. Invesco Ltd. boosted its holdings in shares of Paramount Global by 5.7% during the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock worth $215,413,000 after buying an additional 1,119,314 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Paramount Global by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock valued at $162,731,000 after purchasing an additional 724,565 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

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.