Paramount Global (NASDAQ:PARA) Receives $12.47 Consensus Target Price from Brokerages

Paramount Global (NASDAQ:PARA - Get Free Report) has earned an average recommendation of "Reduce" from the twenty analysts that are presently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $12.47.

PARA has been the topic of several research reports. Argus downgraded Paramount Global from a "hold" rating to a "sell" rating in a report on Friday, May 3rd. Wolfe Research cut Paramount Global from a "peer perform" rating to an "underperform" rating and set a $10.00 price target on the stock. in a report on Tuesday, July 9th. Seaport Res Ptn cut Paramount Global from a "buy" rating to a "neutral" rating in a report on Thursday, May 2nd. Evercore ISI cut their target price on shares of Paramount Global from $13.00 to $11.50 and set an "in-line" rating on the stock in a research report on Tuesday, July 9th. Finally, StockNews.com cut shares of Paramount Global from a "hold" rating to a "sell" rating in a research report on Monday, August 12th.

Paramount Global Price Performance

Shares of PARA stock traded up $0.18 during trading hours on Friday, reaching $11.36. 7,642,319 shares of the company were exchanged, compared to its average volume of 10,615,642. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock's fifty day moving average is $10.92 and its two-hundred day moving average is $11.52. The company has a market cap of $7.57 billion, a price-to-earnings ratio of -75.73, a P/E/G ratio of 0.61 and a beta of 1.78.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, September 16th. Paramount Global's dividend payout ratio is currently -133.32%.

Hedge Funds Weigh In On Paramount Global

Institutional investors and hedge funds have recently modified their holdings of the business. Lingotto Investment Management LLP lifted its stake in Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company's stock valued at $311,046,000 after buying an additional 25,829,185 shares in the last quarter. Kodai Capital Management LP acquired a new position in Paramount Global in the 4th quarter worth $84,842,000. Vanguard Group Inc. increased its holdings in Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company's stock worth $730,805,000 after purchasing an additional 3,803,928 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in shares of Paramount Global in the 1st quarter valued at about $33,191,000. Finally, Norges Bank bought a new stake in shares of Paramount Global in the fourth quarter valued at about $41,497,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.