Paramount Global (NASDAQ:PARA) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

Paramount Global (NASDAQ:PARA) was downgraded by Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Finviz reports. They currently have a $12.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 2.30% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. StockNews.com began coverage on shares of Paramount Global in a report on Sunday. They set a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim restated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley upped their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.09.

Paramount Global Stock Down 1.9 %

PARA opened at $11.73 on Wednesday. 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 company has a market capitalization of $7.82 billion, a PE ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.60. The stock’s fifty day moving average is $11.34 and its 200-day moving average is $10.92. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its quarterly 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 business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. On average, equities analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

A number of hedge funds have recently modified their holdings of the stock. Allworth Financial LP grew its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. Mattson Financial Services LLC acquired a new stake in shares of Paramount Global during the 4th quarter valued at about $28,000. Ossiam grew its stake 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 in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in Paramount Global in the fourth quarter worth approximately $31,000. Finally, Rakuten Securities Inc. lifted its stake in Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after acquiring an additional 2,019 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

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.