UBS Group Cuts Paramount Global (NASDAQ:PARA) Price Target to $10.00

Paramount Global (NASDAQ:PARA) had its target price decreased by UBS Group from $11.00 to $10.00 in a research note published on Tuesday,Benzinga reports. UBS Group currently has a sell rating on the stock.

Several other research firms have also recently issued reports on PARA. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Wednesday, April 2nd. StockNews.com started coverage on Paramount Global in a report on Tuesday. They issued a “hold” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley upped their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.92.

Paramount Global Stock Up 2.1 %

NASDAQ:PARA opened at $10.94 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average of $11.37 and a 200-day moving average of $10.95. The firm has a market capitalization of $7.30 billion, a PE ratio of -1.33, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54.

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

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.83%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Institutional Trading of Paramount Global

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP boosted its stake in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares during the period. Mattson Financial Services LLC acquired a new position in shares of Paramount Global during the fourth quarter worth about $28,000. Ossiam grew its holdings in shares of Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after buying an additional 1,022 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in Paramount Global in the 4th quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. lifted its stake in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after acquiring an additional 2,019 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.