Brokerages Set Paramount Global (NASDAQ:PARA) PT at $12.47

Shares of Paramount Global (NASDAQ:PARA) have been given a consensus recommendation of “Reduce” by the twenty brokerages that are currently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.47.

PARA has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Paramount Global in a report on Tuesday, June 4th. Wolfe Research lowered Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective for the company. in a report on Tuesday, July 9th. JPMorgan Chase & Co. decreased their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group initiated coverage on Paramount Global in a research report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price target on the stock.

Institutional Trading of Paramount Global

Large investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new stake in Paramount Global in the fourth quarter valued at approximately $44,000. Atlas Capital Advisors LLC bought a new stake in shares of Paramount Global during the 2nd quarter worth $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the second quarter worth $43,000. SageView Advisory Group LLC bought a new position in Paramount Global in the first quarter valued at $56,000. Finally, GAMMA Investing LLC raised its position in Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after purchasing an additional 1,067 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of PARA opened at $10.38 on Thursday. The stock has a 50 day moving average of $10.80 and a 200 day moving average of $11.33. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of -69.20, a PEG ratio of 0.57 and a beta of 1.75. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.40. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. As a group, sell-side analysts forecast that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.93%. Paramount Global’s payout ratio is currently -133.33%.

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.