Paramount Global (NASDAQ:PARA) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Paramount Global (NASDAQ:PARA) from a hold rating to a sell rating in a research note published on Saturday.

PARA has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered 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. Wells Fargo & Company raised Paramount Global from an underweight rating to an equal weight rating and raised their price objective for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Wolfe Research cut Paramount Global from a peer perform rating to an underperform rating and set a $10.00 price objective on the stock. in a research note on Tuesday, July 9th. The Goldman Sachs Group initiated coverage on Paramount Global in a research note on Tuesday, June 25th. They set a sell rating and a $9.50 price objective on the stock. Finally, Evercore ISI reduced their price objective on Paramount Global from $13.00 to $11.50 and set an in-line rating on the stock in a research note on Tuesday, July 9th. Eleven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $12.47.

Paramount Global Trading Up 0.2 %

NASDAQ PARA opened at $10.44 on Friday. The stock’s 50-day simple moving average is $10.92 and its two-hundred day simple moving average is $11.33. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of -69.27, a PEG ratio of 0.57 and a beta of 1.75.

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

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.92%. Paramount Global’s payout ratio is presently -133.33%.

Institutional Trading of Paramount Global

Several large investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its position in Paramount Global by 365.1% during the 4th quarter. Victory Capital Management Inc. now owns 101,410 shares of the company’s stock valued at $1,500,000 after acquiring an additional 79,605 shares in the last quarter. Natixis Advisors L.P. bought a new stake in Paramount Global during the 4th quarter valued at approximately $239,000. Ieq Capital LLC bought a new stake in Paramount Global during the 4th quarter valued at approximately $221,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Paramount Global by 11.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 531,954 shares of the company’s stock valued at $7,548,000 after acquiring an additional 56,237 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Paramount Global by 19.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 57,368 shares of the company’s stock valued at $848,000 after acquiring an additional 9,512 shares in the last quarter. 73.00% of the stock is 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.