Paramount Global (NASDAQ:PARA) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Paramount Global (NASDAQ:PARA - Get Free Report) in a research report issued to clients and investors on Saturday. The firm set a "hold" rating on the stock.

Several other research analysts have also recently issued reports on PARA. Benchmark reissued a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reissued a "buy" rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Morgan Stanley upped their price objective 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 given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.10.

Paramount Global Trading Down 0.3 %

PARA stock traded down $0.03 during midday trading on Friday, reaching $11.61. The company's stock had a trading volume of 5,113,925 shares, compared to its average volume of 12,299,808. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of -1.41, a PEG ratio of 1.68 and a beta of 1.60. The stock has a fifty day simple moving average of $11.18 and a two-hundred day simple moving average of $10.85. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

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Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, equities research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Hedge Funds Weigh In On Paramount Global

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its stake in Paramount Global by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock worth $80,993,000 after buying an additional 348,298 shares during the last quarter. Bridgewater Associates LP boosted its holdings in Paramount Global by 50.7% in the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock worth $3,484,000 after acquiring an additional 110,357 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after acquiring an additional 174,514 shares during the last quarter. Wilsey Asset Management Inc. increased its holdings in shares of Paramount Global by 16.2% during the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock valued at $19,898,000 after acquiring an additional 265,408 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Paramount Global by 24.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock worth $47,973,000 after purchasing an additional 908,515 shares in the last quarter. 73.00% of the stock is 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.