Paramount Global (NASDAQ:PARA) Earns Hold Rating from Needham & Company LLC

Paramount Global (NASDAQ:PARA - Get Free Report)'s stock had its "hold" rating restated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports.

Several other equities analysts also recently weighed in on the company. Wells Fargo & Company upgraded Paramount Global from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a report on Thursday, August 15th. Guggenheim lowered their target price on Paramount Global from $19.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Benchmark restated a "buy" rating and set a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. Finally, StockNews.com downgraded Paramount Global from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $12.40.

Paramount Global Stock Performance

NASDAQ PARA traded up $0.45 on Monday, hitting $11.52. 10,546,551 shares of the stock traded hands, compared to its average volume of 14,892,661. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -1.39, a PEG ratio of 1.66 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The business's fifty day moving average is $10.52 and its two-hundred day moving average is $11.09. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Paramount Global will post 1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PARA. Allspring Global Investments Holdings LLC increased its position in shares of Paramount Global by 3.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company's stock worth $291,000 after purchasing an additional 934 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company's stock worth $207,000 after purchasing an additional 1,002 shares during the last quarter. Carson Advisory Inc. increased its stake in Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company's stock valued at $577,000 after purchasing an additional 1,004 shares in the last quarter. Prestige Wealth Management Group LLC lifted its stake in shares of Paramount Global by 13.2% during the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company's stock worth $90,000 after buying an additional 1,011 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company's stock valued at $60,000 after acquiring an additional 1,067 shares during the period. 73.00% of the stock is owned by 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.