Morgan Stanley Raises Paramount Global (NASDAQ:PARA) Price Target to $11.00

Paramount Global (NASDAQ:PARA - Get Free Report) had its price target upped by analysts at Morgan Stanley from $10.00 to $11.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 1.48% from the company's current price.

Other analysts have also issued research reports about the stock. Macquarie reiterated an "underperform" rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Paramount Global currently has an average rating of "Hold" and an average price target of $12.58.

Paramount Global Trading Down 0.7 %

Paramount Global stock traded down $0.08 during mid-day trading on Tuesday, hitting $10.84. 7,609,892 shares of the stock were exchanged, compared to its average volume of 8,937,021. 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 12 month low of $9.54 and a 12 month high of $14.54. The firm's fifty day simple moving average is $10.75 and its two-hundred day simple moving average is $10.72. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.58 and a beta of 1.69.

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

Hedge Funds Weigh In On Paramount Global

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after acquiring an additional 1,395 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock worth $26,000 after buying an additional 1,573 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company's stock worth $29,000 after buying an additional 1,561 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Paramount Global in the 3rd quarter worth about $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company's stock worth $52,000 after buying an additional 4,100 shares during 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.