Benchmark Reiterates Buy Rating for Paramount Global (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA)‘s stock had its “buy” rating reissued by investment analysts at Benchmark in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $19.00 price target on the stock. Benchmark’s price objective would indicate a potential upside of 84.47% from the company’s previous close.

PARA has been the subject of a number of other reports. Wolfe Research downgraded shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a research note on Tuesday, July 9th. Seaport Res Ptn lowered Paramount Global from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Rosenblatt Securities restated a “neutral” rating and set a $14.00 target price on shares of Paramount Global in a research report on Tuesday, June 4th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $10.00 to $11.00 in a research report on Friday. Ten investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Paramount Global presently has an average rating of “Hold” and a consensus price target of $12.94.

Paramount Global Price Performance

Shares of PARA traded up $0.09 during mid-day trading on Friday, reaching $10.30. The company had a trading volume of 14,193,206 shares, compared to its average volume of 17,767,447. The company has a market capitalization of $6.86 billion, a P/E ratio of -68.67, a P/E/G ratio of 0.76 and a beta of 1.78. The company’s 50-day moving average is $11.06 and its 200-day moving average is $11.75. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. On average, equities analysts anticipate that Paramount Global will post 1.34 EPS for the current year.

Hedge Funds Weigh In On Paramount Global

A number of institutional investors have recently bought and sold shares of the business. Archer Investment Corp bought a new stake in shares of Paramount Global during the fourth quarter worth approximately $30,000. Friedenthal Financial acquired a new stake in Paramount Global during the fourth quarter worth approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in Paramount Global during the 4th quarter worth $44,000. Atlas Capital Advisors LLC acquired a new position in Paramount Global in the 2nd quarter valued at $35,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Paramount Global during the 4th quarter valued at $59,000. Institutional investors and hedge funds 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.