Paramount Global (NASDAQ:PARA – Get Free Report) had its price objective reduced by Wells Fargo & Company from $15.00 to $14.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 14.19% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. Needham & Company LLC lowered Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday. Redburn Atlantic lowered Paramount Global from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $17.00 to $11.00 in a research note on Thursday, January 11th. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Tuesday. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 target price on shares of Paramount Global in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.58.
View Our Latest Analysis on PARA
Paramount Global Price Performance
Paramount Global (NASDAQ:PARA – Get Free Report) last released its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.28. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a positive return on equity of 3.34% and a negative net margin of 0.15%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, analysts anticipate that Paramount Global will post 1.19 earnings per share for the current year.
Institutional Investors Weigh In On Paramount Global
A number of large investors have recently modified their holdings of PARA. VisionPoint Advisory Group LLC acquired a new stake in shares of Paramount Global during the 3rd quarter valued at $25,000. Anchor Investment Management LLC acquired a new stake in shares of Paramount Global during the 4th quarter valued at $30,000. Archer Investment Corp acquired a new stake in shares of Paramount Global during the 4th quarter valued at $30,000. WFA of San Diego LLC boosted its holdings in shares of Paramount Global by 635.0% during the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Paramount Global by 55.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock valued at $38,000 after acquiring an additional 1,056 shares in 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 ChilevisiĆ³n; 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.
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