Paramount Global (NASDAQ:PARA) Now Covered by StockNews.com

StockNews.com started coverage on shares of Paramount Global (NASDAQ:PARA) in a research note issued to investors on Saturday morning. The brokerage issued a hold rating on the stock.

Several other research analysts have also issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley lifted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average target price of $12.10.

Paramount Global Trading Down 0.6 %

NASDAQ:PARA opened at $11.86 on Friday. The company has a 50-day moving average price of $11.16 and a 200-day moving average price of $10.84. Paramount Global has a 12 month low of $9.54 and a 12 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 stock has a market cap of $7.91 billion, a price-to-earnings ratio of -1.44, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Equities analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently announced 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 yield of 1.69%. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Institutional Trading of Paramount Global

Several large investors have recently added to or reduced their stakes 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 buying an additional 1,395 shares during the period. Mattson Financial Services LLC bought a new position in shares of Paramount Global in the fourth quarter worth approximately $28,000. Ossiam boosted its position in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after purchasing an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global in the fourth quarter worth approximately $31,000. Finally, Rakuten Securities Inc. boosted its position in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares during the period. 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.