Paramount Global (NASDAQ:PARA) Upgraded at StockNews.com

by · The Cerbat Gem

Paramount Global (NASDAQ:PARA – Get Free Report) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

A number of other equities research analysts have also recently issued reports on PARA. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday. Finally, Guggenheim decreased their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.40.

Get Our Latest Research Report on Paramount Global

Paramount Global Stock Performance

Paramount Global stock traded up $0.48 during trading on Monday, hitting $11.55. The stock had a trading volume of 13,886,760 shares, compared to its average volume of 14,912,131. The stock’s 50 day moving average is $10.54 and its two-hundred day moving average is $11.09. The company has a quick ratio of 1.15, a current ratio of 1.30 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 $17.50. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 1.66 and a beta of 1.74.

Paramount Global (NASDAQ:PARA – Get Free Report) last issued its 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 negative net margin of 17.62% and a positive return on equity of 4.88%. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts predict that Paramount Global will post 1.61 EPS for the current year.

Institutional Trading of Paramount Global

Institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its position in Paramount Global by 146.5% during the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after buying an additional 90,262 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Paramount Global by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock valued at $7,998,000 after buying an additional 34,541 shares during the period. Financial Counselors Inc. boosted its position in Paramount Global by 6.9% during the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after buying an additional 56,021 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Paramount Global by 33.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after buying an additional 103,103 shares during the period. Finally, Hoertkorn Richard Charles boosted its holdings in shares of Paramount Global by 38.1% during the third quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock worth $2,354,000 after purchasing an additional 61,191 shares during the period. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

About Paramount Global

(Get Free Report)

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.

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