Paramount Global (NASDAQ:PARA) Receives $12.47 Average Price Target from Analysts

Shares of Paramount Global (NASDAQ:PARA) have received an average recommendation of “Reduce” from the twenty brokerages that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $12.47.

Several analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 price target on shares of Paramount Global in a research report on Tuesday, June 4th. StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Finally, The Goldman Sachs Group assumed coverage on Paramount Global in a report on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price target for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position 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 during the period. Lingotto Investment Management LLP boosted its position in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after acquiring an additional 25,829,185 shares during the period. Ariel Investments LLC boosted its position in Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after acquiring an additional 1,992,576 shares during the period. Kodai Capital Management LP boosted its position in Paramount Global by 9.2% during the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company’s stock worth $73,732,000 after acquiring an additional 527,897 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Paramount Global by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock worth $38,698,000 after acquiring an additional 225,191 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $10.47 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The business has a 50 day moving average price of $11.00 and a two-hundred day moving average price of $11.44. The firm has a market cap of $6.98 billion, a PE ratio of -69.80, a price-to-earnings-growth ratio of 0.62 and a beta of 1.78.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.91%. Paramount Global’s dividend payout ratio is currently -133.32%.

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.