Paramount Global (NASDAQ:PARA - Get Free Report) had its price objective increased by research analysts at Morgan Stanley from $10.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 3.48% from the stock's current price.
A number of other research firms also recently issued reports on PARA. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reiterated an "underperform" rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of Paramount Global from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $12.58.
Get Our Latest Analysis on PARA
Paramount Global Stock Down 1.9 %
PARA traded down $0.21 on Tuesday, hitting $10.63. 9,712,923 shares of the company were exchanged, compared to its average volume of 8,870,908. The firm has a 50-day moving average price of $10.75 and a two-hundred day moving average price of $10.72. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company has a market cap of $7.09 billion, a price-to-earnings ratio of -1.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.69.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analysts' expectations of $6.94 billion. During the same period in the prior year, the firm posted $0.30 EPS. The business's quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Paramount Global will post 1.78 earnings per share for the current year.
Institutional Investors Weigh In On Paramount Global
A number of hedge funds and other institutional investors have recently made changes to their positions in PARA. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $78,533,000 after buying an additional 1,030,592 shares during the period. Bridgewater Associates LP grew its holdings in Paramount Global by 50.7% in the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock valued at $3,484,000 after purchasing an additional 110,357 shares during the period. Franklin Resources Inc. raised its stake in Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after purchasing an additional 174,514 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Paramount Global by 22.3% in 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 acquired a new stake in shares of Paramount Global during the 3rd quarter worth $5,098,000. 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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