Paramount Global’s (PARA) “Buy” Rating Reaffirmed at Guggenheim

Paramount Global (NASDAQ:PARA)‘s stock had its “buy” rating reiterated by Guggenheim in a report released on Thursday,Benzinga reports. They presently have a $14.00 target price on the stock. Guggenheim’s price objective points to a potential upside of 25.50% from the stock’s current price.

Several other research analysts have also weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday. Finally, Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.58.

Paramount Global Trading Down 0.6 %

PARA traded down $0.07 during midday trading on Thursday, hitting $11.16. The company’s stock had a trading volume of 4,627,204 shares, compared to its average volume of 8,956,376. 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 firm has a market cap of $7.44 billion, a P/E ratio of -1.36, a PEG ratio of 1.68 and a beta of 1.69. The firm has a 50-day moving average price of $10.78 and a two-hundred day moving average price of $10.73. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. On average, research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Hedge Funds Weigh In On Paramount Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock worth $701,242,000 after acquiring an additional 761,561 shares during the period. Lingotto Investment Management LLP increased its stake in Paramount Global by 3.7% during the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock worth $468,120,000 after acquiring an additional 1,593,579 shares during the period. State Street Corp increased its stake in 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 acquiring an additional 6,848,037 shares during the period. Invesco Ltd. increased its stake in Paramount Global by 5.7% during the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock worth $215,413,000 after acquiring an additional 1,119,314 shares during the period. Finally, Geode Capital Management LLC increased its stake in Paramount Global by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock worth $162,731,000 after acquiring an additional 724,565 shares during the period. Institutional investors own 73.00% of the company’s stock.

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.