Guggenheim Reiterates "Buy" Rating for Paramount Global (NASDAQ:PARA)

Guggenheim reissued their buy rating on shares of Paramount Global (NASDAQ:PARA - Free Report) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $14.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a report on Thursday. Morgan Stanley increased their price objective on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Macquarie reissued an "underperform" rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised shares of Paramount Global from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Finally, Benchmark reissued a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Thursday. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Paramount Global presently has an average rating of "Hold" and an average target price of $12.10.

Paramount Global Price Performance

Shares of NASDAQ:PARA traded down $0.05 during midday trading on Thursday, hitting $11.31. 7,519,571 shares of the stock were exchanged, compared to its average volume of 9,176,945. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average price of $10.81 and a 200-day moving average price of $10.75. The stock has a market cap of $7.54 billion, a P/E ratio of -1.38, a PEG ratio of 1.68 and a beta of 1.69.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its 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). The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, research analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.77%. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.

Institutional Trading of Paramount Global

A number of institutional investors and hedge funds have recently made changes to their positions in PARA. Allworth Financial LP grew its position in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Blue Trust Inc. lifted its stake 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 holdings in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company's stock worth $29,000 after purchasing an additional 1,561 shares during the period. Ossiam increased its position in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Paramount Global in the fourth quarter valued at approximately $31,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.