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 Sunday. The firm set a "hold" rating on the stock.
PARA has been the subject of a number of other reports. Benchmark reiterated a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley boosted their target price 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 restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $12.09.
Read Our Latest Research Report on Paramount Global
Paramount Global Trading Up 1.4 %
Shares of PARA stock traded up $0.17 during trading on Friday, hitting $11.90. 9,131,282 shares of the stock traded hands, compared to its average volume of 12,481,859. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The firm has a market capitalization of $7.94 billion, a P/E ratio of -1.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The firm's fifty day moving average price is $11.37 and its 200-day moving average price is $10.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.
Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to analysts' expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, research analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Paramount Global
Several institutional investors have recently added to or reduced their stakes in PARA. Contrarius Group Holdings Ltd acquired a new stake in Paramount Global during the fourth quarter worth approximately $146,230,000. State Street Corp raised its stake in Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company's stock worth $470,695,000 after acquiring an additional 6,848,037 shares in the last quarter. Norges Bank purchased a new stake in Paramount Global in the fourth quarter valued at $45,202,000. Slate Path Capital LP boosted its stake in Paramount Global by 42.3% in the fourth quarter. Slate Path Capital LP now owns 12,586,000 shares of the company's stock valued at $131,650,000 after acquiring an additional 3,741,000 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Paramount Global during the fourth quarter worth about $21,229,000. Hedge funds and other institutional investors own 73.00% of the company's stock.
About Paramount Global
(
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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.
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