Paramount Global (NASDAQ:PARA) Price Target Lowered to $10.00 at UBS Group

Paramount Global (NASDAQ:PARA - Get Free Report) had its target price lowered by stock analysts at UBS Group from $11.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "sell" rating on the stock. UBS Group's price target would indicate a potential downside of 8.59% from the company's previous close.

A number of other equities analysts have also weighed in on PARA. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research report on Wednesday, April 2nd. Morgan Stanley lifted their target price on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reissued a "buy" rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Benchmark reaffirmed a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Paramount Global currently has an average rating of "Hold" and an average target price of $11.92.

Paramount Global Stock Up 2.1 %

Shares of NASDAQ:PARA traded up $0.23 during midday trading on Tuesday, reaching $10.94. The company's stock had a trading volume of 6,698,723 shares, compared to its average volume of 11,513,455. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The firm has a market capitalization of $7.30 billion, a P/E ratio of -1.33, a PEG ratio of 1.68 and a beta of 1.31. The firm has a 50 day moving average of $11.38 and a 200-day moving average of $10.95. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. On average, research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Institutional Trading of Paramount Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $80,993,000 after buying an additional 348,298 shares in the last quarter. Franklin Resources Inc. raised 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 valued at $2,029,000 after acquiring an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. boosted its holdings in shares of Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock valued at $19,898,000 after purchasing an additional 265,408 shares during the period. Bank of New York Mellon Corp grew its stake in Paramount Global by 24.7% in the fourth 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. Finally, Raymond James Financial Inc. purchased a new position in Paramount Global during the 4th quarter worth $5,457,000. 73.00% of the stock is currently 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.