Paramount Global (NASDAQ:PARA) Receives Average Recommendation of “Reduce” from Analysts

Paramount Global (NASDAQ:PARA) has been assigned a consensus recommendation of “Reduce” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $12.58.

A number of equities analysts recently commented on PARA shares. Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Macquarie reiterated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $11.49 on Friday. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a market cap of $7.66 billion, a price-to-earnings ratio of -1.40, a PEG ratio of 1.68 and a beta of 1.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The business’s 50 day moving average price is $10.75 and its 200 day moving average price is $10.71.

Institutional Investors Weigh In On Paramount Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PARA. Allworth Financial LP raised its holdings in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the period. Blue Trust Inc. raised 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 buying an additional 1,573 shares during the period. Huntington National Bank raised its holdings in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares during the period. Ossiam raised its holdings in shares of Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after buying an additional 1,022 shares during the period. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Paramount Global in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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.