Paramount Global (NASDAQ:PARA) Downgraded by Wolfe Research

Wolfe Research cut shares of Paramount Global (NASDAQ:PARA) from a peer perform rating to an underperform rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have $10.00 price target on the stock.

A number of other equities analysts also recently commented on the company. Seaport Res Ptn downgraded Paramount Global from a buy rating to a neutral rating in a research note on Thursday, May 2nd. Benchmark reaffirmed a buy rating and set a $19.00 price target on shares of Paramount Global in a report on Tuesday, April 30th. The Goldman Sachs Group initiated coverage on Paramount Global in a report on Tuesday, June 25th. They set a sell rating and a $9.50 price target on the stock. Wells Fargo & Company cut Paramount Global from an equal weight rating to an underweight rating and cut their price target for the company from $14.00 to $9.00 in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. cut their price target on Paramount Global from $13.00 to $12.00 and set an underweight rating on the stock in a report on Thursday, April 4th. Eleven research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $12.83.

Paramount Global Stock Up 0.3 %

Shares of PARA stock opened at $11.73 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The business has a 50 day moving average of $11.56 and a two-hundred day moving average of $12.19. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. Paramount Global’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Institutional Trading of Paramount Global

Large investors have recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC bought a new stake in Paramount Global during the third quarter worth approximately $25,000. Anchor Investment Management LLC bought a new stake in Paramount Global during the fourth quarter worth approximately $30,000. Archer Investment Corp bought a new stake in Paramount Global during the fourth quarter worth approximately $30,000. Friedenthal Financial bought a new stake in Paramount Global during the fourth quarter worth approximately $39,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Paramount Global during the fourth quarter worth approximately $44,000. 73.00% of the stock is currently owned by 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.