Paramount Global (NASDAQ:PARA) Rating Lowered to "Hold" at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global (NASDAQ:PARA - Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has $12.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the stock. Benchmark reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley increased their price target on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reaffirmed a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, StockNews.com assumed coverage on shares of Paramount Global in a research note on Sunday, March 30th. They set a "hold" rating for the company. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $12.09.

Paramount Global Stock Down 3.8 %

Shares of Paramount Global stock traded down $0.42 on Wednesday, hitting $10.65. The company had a trading volume of 3,989,796 shares, compared to its average volume of 11,933,018. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -1.30, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The stock has a 50 day moving average of $11.38 and a 200-day moving average of $10.94.

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

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.88%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is -2.15%.

Institutional Trading of Paramount Global

Several institutional investors and hedge funds have recently modified their holdings of PARA. Intech Investment Management LLC bought a new position in shares of Paramount Global in the third quarter worth approximately $117,000. Glenmede Trust Co. NA purchased a new stake in shares of Paramount Global during the 3rd quarter valued at $127,000. MetLife Investment Management LLC lifted its holdings in shares of Paramount Global by 15.7% during the 3rd quarter. MetLife Investment Management LLC now owns 154,584 shares of the company's stock worth $1,642,000 after acquiring an additional 20,984 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Paramount Global by 27.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 106,504 shares of the company's stock worth $1,131,000 after acquiring an additional 22,650 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Paramount Global by 9.6% in the third quarter. Rockefeller Capital Management L.P. now owns 21,146 shares of the company's stock valued at $225,000 after acquiring an additional 1,845 shares during the last quarter. Hedge funds and other institutional investors 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.