Paramount Global’s (PARA) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Paramount Global (NASDAQ:PARA) in a research note published on Thursday,Benzinga reports.

Several other analysts also recently issued reports on the stock. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Macquarie reaffirmed an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.10.

Paramount Global Stock Performance

NASDAQ:PARA opened at $11.36 on Thursday. The firm’s fifty day simple moving average is $10.81 and its 200 day simple moving average is $10.75. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of -1.38, a PEG ratio of 1.68 and a beta of 1.69.

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). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. As a group, equities research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.76%. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

Institutional Trading of Paramount Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Paramount Global in the 4th quarter valued at approximately $911,000. B. Riley Wealth Advisors Inc. increased its stake in Paramount Global by 24.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 12,695 shares of the company’s stock valued at $133,000 after purchasing an additional 2,512 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Paramount Global during the fourth quarter worth $5,688,000. Waverly Advisors LLC bought a new position in shares of Paramount Global in the 4th quarter worth about $106,000. Finally, Woodline Partners LP acquired a new position in shares of Paramount Global in the 4th quarter valued at about $11,096,000. Institutional investors and hedge funds 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.