Paramount Global (NASDAQ:PARA) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Paramount Global (NASDAQ:PARA) in a research note released on Thursday,Benzinga reports. The firm currently has a $19.00 price objective on the stock.

PARA has been the topic of a number of other reports. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley upped their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.58.

Paramount Global Stock Up 0.2 %

PARA opened at $11.24 on Thursday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The stock’s fifty day simple moving average is $10.80 and its 200 day simple moving average is $10.74. 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 stock has a market cap of $7.50 billion, a PE ratio of -1.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share 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 during the quarter, compared to the consensus estimate of $8.07 billion. As a group, research analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. Paramount Global’s dividend payout ratio is currently -2.43%.

Institutional Trading of Paramount Global

Several institutional investors and hedge funds have recently modified their holdings of PARA. Contrarius Group Holdings Ltd bought a new stake in shares of Paramount Global during the 4th quarter worth $146,230,000. State Street Corp lifted its position in shares of 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 buying an additional 6,848,037 shares during the last quarter. Norges Bank bought a new stake in shares of Paramount Global during the 4th quarter worth $45,202,000. Slate Path Capital LP lifted its position in shares of Paramount Global by 42.3% during the 4th quarter. Slate Path Capital LP now owns 12,586,000 shares of the company’s stock worth $131,650,000 after buying an additional 3,741,000 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Paramount Global during the 4th quarter worth $21,229,000. 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.