Paramount Global (NASDAQ:PARA) Given "Underperform" Rating at Macquarie

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

Several other research firms have also recently weighed in on PARA. Guggenheim lowered their price target on Paramount Global from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Wells Fargo & Company raised Paramount Global from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. StockNews.com lowered shares of Paramount Global from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Monday. Finally, Benchmark reiterated a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Paramount Global has an average rating of "Hold" and a consensus price target of $12.40.

Paramount Global Stock Performance

Shares of NASDAQ:PARA traded up $0.48 during midday trading on Monday, reaching $11.55. 13,886,760 shares of the company's stock traded hands, compared to its average volume of 14,912,131. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The stock has a 50 day moving average of $10.54 and a 200 day moving average of $11.09. The company has a market cap of $7.70 billion, a price-to-earnings ratio of -1.41, a P/E/G ratio of 1.66 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter last year, the firm posted $0.30 EPS. The business's quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Paramount Global will post 1.61 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 1.73%. The ex-dividend date is Monday, December 16th. Paramount Global's dividend payout ratio (DPR) is -2.43%.

Institutional Trading of Paramount Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PARA. Allspring Global Investments Holdings LLC lifted its stake in shares of Paramount Global by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company's stock worth $291,000 after acquiring an additional 934 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in Paramount Global by 4.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 99,705 shares of the company's stock valued at $1,174,000 after buying an additional 4,152 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Paramount Global by 1.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 160,114 shares of the company's stock worth $1,885,000 after acquiring an additional 2,440 shares in the last quarter. Empowered Funds LLC increased its position in shares of Paramount Global by 45.1% during the first quarter. Empowered Funds LLC now owns 15,270 shares of the company's stock worth $180,000 after acquiring an additional 4,748 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Paramount Global by 109.9% during the first quarter. SG Americas Securities LLC now owns 100,473 shares of the company's stock valued at $1,183,000 after acquiring an additional 52,614 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

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.