Paramount Global (NASDAQ:PARA) Rating Increased to Hold at StockNews.com

Paramount Global (NASDAQ:PARA) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Other equities research analysts have also issued reports about the stock. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $10.00 to $11.00 in a research note 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 on the stock in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.40.

Paramount Global Stock Performance

NASDAQ:PARA traded up $0.48 during mid-day trading on Monday, hitting $11.55. The company’s stock had a trading volume of 13,886,760 shares, compared to its average volume of 14,912,131. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of -1.41, a PEG ratio of 1.66 and a beta of 1.74. The business’s fifty day moving average is $10.54 and its two-hundred day moving average is $11.09.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period in the prior year, the company posted $0.30 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts anticipate that Paramount Global will post 1.61 EPS for the current fiscal year.

Institutional Trading of Paramount Global

Several institutional investors have recently added to or reduced their stakes in PARA. Lingotto Investment Management LLP boosted its position in Paramount Global by 628.8% in the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares during the period. Vanguard Group Inc. raised its stake in Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after acquiring an additional 3,803,928 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in Paramount Global during the 1st quarter worth $33,191,000. Jane Street Group LLC raised its stake in Paramount Global by 323.5% during the 1st quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock worth $32,417,000 after acquiring an additional 2,103,938 shares in the last quarter. Finally, Ariel Investments LLC raised its holdings in shares of Paramount Global by 16.5% in the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after buying an additional 1,992,576 shares during the last quarter. 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.