Brokerages Set Paramount Global (NASDAQ:PARA) Target Price at $12.10

Shares of Paramount Global (NASDAQ:PARA) have been assigned a consensus rating of “Reduce” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.10.

A number of analysts have issued reports on PARA shares. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $11.68 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. The business’s 50-day simple moving average is $11.07 and its 200-day simple moving average is $10.80. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.71%. Paramount Global’s payout ratio is -2.15%.

Hedge Funds Weigh In On Paramount Global

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in shares of Paramount Global by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock worth $80,993,000 after acquiring an additional 348,298 shares during the last quarter. Bridgewater Associates LP raised its position in shares of Paramount Global by 50.7% during the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after acquiring an additional 110,357 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after acquiring an additional 174,514 shares during the last quarter. Wilsey Asset Management Inc. raised its position in shares of Paramount Global by 16.2% during the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after acquiring an additional 265,408 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Paramount Global by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after acquiring an additional 908,515 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

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.