Paramount Global (NASDAQ:PARA) Given Average Rating of “Reduce” by Analysts

Shares of Paramount Global (NASDAQ:PARA) have been assigned a consensus recommendation of “Reduce” from the fifteen analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $12.50.

PARA has been the subject of a number of analyst reports. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.07 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52 week low of $9.54 and a 52 week high of $15.70. The firm has a market capitalization of $7.38 billion, a P/E ratio of -1.35, a P/E/G ratio of 1.53 and a beta of 1.70. The firm’s 50 day moving average is $10.72 and its two-hundred day moving average is $10.76.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. Research analysts forecast that Paramount Global will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SOL Capital Management CO lifted its position in shares of Paramount Global by 1.6% during the 4th quarter. SOL Capital Management CO now owns 180,604 shares of the company’s stock worth $1,889,000 after buying an additional 2,830 shares during the last quarter. Synergy Asset Management LLC acquired a new position in Paramount Global during the 4th quarter worth about $88,000. R Squared Ltd bought a new position in Paramount Global during the 4th quarter worth approximately $154,000. Perigon Wealth Management LLC grew its holdings in Paramount Global by 7.0% during the 4th quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock worth $293,000 after acquiring an additional 1,874 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its stake in shares of Paramount Global by 27.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 33,254 shares of the company’s stock valued at $348,000 after acquiring an additional 7,167 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

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.