Brokerages Set Paramount Global (NASDAQ:PARA) Target Price at $12.50

Shares of Paramount Global (NASDAQ:PARA) have been given an average recommendation of “Reduce” by the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $12.50.

Several research firms recently commented on PARA. Macquarie reaffirmed an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th.

Hedge Funds Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in Paramount Global by 18.4% during 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 in the last quarter. Geode Capital Management LLC grew its position in Paramount Global by 12.1% during the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after buying an additional 1,606,779 shares in the last quarter. Ariel Investments LLC grew its position in Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after buying an additional 1,992,576 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after buying an additional 1,030,592 shares in the last quarter. Finally, Wilsey Asset Management Inc. grew its position in Paramount Global by 16.2% during the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after buying an additional 265,408 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Trading Down 0.9 %

NASDAQ PARA opened at $11.06 on Wednesday. The business has a 50 day simple moving average of $10.75 and a 200 day simple moving average of $10.75. Paramount Global has a one year low of $9.54 and a one year high of $15.70. The stock has a market capitalization of $7.38 billion, a P/E ratio of -1.35, a P/E/G ratio of 1.53 and a beta of 1.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA) last released its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. Research analysts expect that Paramount Global will post 1.78 earnings per share for the current year.

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.