Paramount Global (NASDAQ:PARA) Receives $12.57 Consensus Price Target from Analysts

Paramount Global (NASDAQ:PARA - Get Free Report) has been given a consensus rating of "Reduce" by the seventeen brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $12.57.

PARA has been the topic of a number of research analyst reports. Guggenheim dropped their price target 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. StockNews.com cut shares of Paramount Global from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company raised shares of Paramount Global from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research report on Friday, August 9th.

Hedge Funds Weigh In On Paramount Global

Several hedge funds have recently bought and sold shares of PARA. Blue Trust Inc. boosted its holdings in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock valued at $26,000 after purchasing an additional 1,573 shares in the last quarter. Huntington National Bank grew its position in Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company's stock valued at $29,000 after acquiring an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in Paramount Global during the second quarter worth about $35,000. Ashton Thomas Private Wealth LLC acquired a new position in Paramount Global during the second quarter worth about $43,000. Finally, Kennebec Savings Bank bought a new position in shares of Paramount Global in the third quarter worth about $47,000. 73.00% of the stock is owned by institutional investors.

Paramount Global Trading Down 4.0 %

NASDAQ PARA traded down $0.46 during trading on Friday, reaching $11.07. 15,667,002 shares of the stock traded hands, compared to its average volume of 14,915,848. The stock's 50-day moving average price is $10.51 and its 200 day moving average price is $11.12. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of -1.48, a price-to-earnings-growth ratio of 1.70 and a beta of 1.74. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.14 by $0.40. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. Analysts predict that Paramount Global will post 1.61 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, December 16th. Paramount Global's dividend payout ratio (DPR) is currently -2.57%.

About Paramount Global

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.