Paramount Global (NASDAQ:PARA) Given “Buy” Rating at Benchmark

Paramount Global (NASDAQ:PARA)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research note issued on Tuesday, Benzinga reports. They presently have a $19.00 target price on the stock. Benchmark’s price objective suggests a potential upside of 61.02% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Paramount Global in a research note on Tuesday, April 9th. Morgan Stanley lowered their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, February 27th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a research report on Tuesday, January 9th. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Finally, Redburn Atlantic cut Paramount Global from a “neutral” rating to a “sell” rating and reduced their price target for the company from $17.00 to $11.00 in a research report on Thursday, January 11th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.79.

Paramount Global Stock Down 3.7 %

Shares of PARA traded down $0.45 during mid-day trading on Tuesday, reaching $11.80. The company’s stock had a trading volume of 5,494,826 shares, compared to its average volume of 18,982,125. The business has a fifty day moving average of $11.48 and a 200 day moving average of $12.88. Paramount Global has a 1 year low of $10.12 and a 1 year high of $24.00. The company has a market cap of $7.70 billion, a price-to-earnings ratio of -11.66, a price-to-earnings-growth ratio of 0.42 and a beta of 1.77. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.28. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts forecast that Paramount Global will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. VisionPoint Advisory Group LLC bought a new position in shares of Paramount Global in the third quarter worth about $25,000. Archer Investment Corp purchased a new position in Paramount Global during the fourth quarter valued at approximately $30,000. Anchor Investment Management LLC purchased a new stake in shares of Paramount Global in the fourth quarter worth $30,000. WFA of San Diego LLC increased its stake in Paramount Global by 635.0% in the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after buying an additional 2,286 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Paramount Global during the fourth quarter worth about $39,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

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.