Paramount Global (NASDAQ:PARA) Receives $12.50 Consensus Target Price from Brokerages

Paramount Global (NASDAQ:PARA - Get Free Report) has been given a consensus rating of "Reduce" by the fifteen ratings firms that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $12.50.

A number of research firms have recently weighed in on PARA. Guggenheim dropped their price objective on Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. StockNews.com raised shares of Paramount Global from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Macquarie reissued an "underperform" rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th.

Paramount Global Trading Up 0.3 %

Shares of PARA stock traded up $0.03 on Wednesday, hitting $10.51. 10,114,553 shares of the company's stock traded hands, compared to its average volume of 8,780,120. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of -1.28, a P/E/G ratio of 1.50 and a beta of 1.70. The company's fifty day simple moving average is $10.73 and its 200 day simple moving average is $10.77. Paramount Global has a one year low of $9.54 and a one year high of $15.70.

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

Institutional Investors Weigh In On Paramount Global

A number of large investors have recently added to or reduced their stakes in PARA. Charles Schwab Investment Management Inc. boosted its stake in shares of Paramount Global by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock worth $78,533,000 after buying an additional 1,030,592 shares during the last quarter. Bridgewater Associates LP boosted its position 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 purchasing an additional 110,357 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Paramount Global by 824.1% during the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock valued at $2,029,000 after purchasing an additional 174,514 shares during the period. Principal Financial Group Inc. increased its position in shares of Paramount Global by 22.3% during the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company's stock valued at $7,258,000 after purchasing an additional 124,740 shares during the last quarter. Finally, HBK Investments L P bought a new position in shares of Paramount Global in the 3rd quarter worth approximately $5,098,000. 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.