StockNews.com Begins Coverage on Paramount Global (NASDAQ:PARA)

StockNews.com initiated coverage on shares of Paramount Global (NASDAQ:PARA) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the stock.

A number of other research firms have also recently issued reports on PARA. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley increased their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.10.

Paramount Global Stock Performance

NASDAQ:PARA opened at $11.96 on Friday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The business’s fifty day moving average is $11.31 and its 200 day moving average is $10.91. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PARA. Vanguard Group Inc. increased its stake in shares of Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock worth $701,242,000 after purchasing an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP increased its position in Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock worth $468,120,000 after buying an additional 1,593,579 shares in the last quarter. State Street Corp raised its stake in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after buying an additional 6,848,037 shares during the period. Invesco Ltd. lifted its position in shares of Paramount Global by 5.7% during the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock valued at $215,413,000 after buying an additional 1,119,314 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Paramount Global by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock valued at $162,731,000 after acquiring an additional 724,565 shares during the period. Hedge funds and other institutional investors 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.