Paramount Global (NASDAQ:PARA) Receives “Underperform” Rating from Macquarie

Macquarie reiterated their underperform rating on shares of Paramount Global (NASDAQ:PARA) in a research report report published on Monday,Benzinga reports. The firm currently has a $10.00 price target on the stock.

Other analysts also recently issued reports about the company. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Monday. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.40.

Paramount Global Trading Down 2.5 %

Shares of PARA stock opened at $11.16 on Monday. The company has a market cap of $7.44 billion, a P/E ratio of -1.36, a PEG ratio of 1.44 and a beta of 1.74. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The stock has a 50 day simple moving average of $10.58 and a two-hundred day simple moving average of $11.09. 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 released its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. Research analysts forecast that Paramount Global will post 1.78 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is -2.43%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in Paramount Global by 3.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock valued at $291,000 after buying an additional 934 shares during the period. Great Valley Advisor Group Inc. boosted its stake in Paramount Global by 5.3% in the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after acquiring an additional 1,002 shares during the last quarter. Carson Advisory Inc. increased its stake in shares of Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after purchasing an additional 1,004 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Paramount Global by 13.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after purchasing an additional 1,011 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares during the period. Institutional investors own 73.00% of the company’s stock.

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.