Analysts Set Paramount Global (NASDAQ:PARA) PT at $12.47

Shares of Paramount Global (NASDAQ:PARA) have been given an average rating of “Reduce” by the twenty brokerages that are currently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.18.

Several equities research analysts recently weighed in on PARA shares. JPMorgan Chase & Co. dropped their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Guggenheim decreased their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $10.00 to $11.00 in a research note on Friday, August 9th.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $10.55 on Thursday. The firm has a fifty day simple moving average of $10.74 and a two-hundred day simple moving average of $11.32. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $7.03 billion, a PE ratio of -70.33, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Equities analysts expect that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s payout ratio is presently -133.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new stake in Paramount Global during the 4th quarter valued at $44,000. Atlas Capital Advisors LLC bought a new position in Paramount Global in the second quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the second quarter worth about $43,000. SageView Advisory Group LLC purchased a new stake in shares of Paramount Global during the 1st quarter valued at about $56,000. Finally, GAMMA Investing LLC lifted its stake in shares of Paramount Global by 22.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares during the period. 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.