Paramount Global’s (PARA) Neutral Rating Reiterated at Citigroup

Citigroup restated their neutral rating on shares of Paramount Global (NASDAQ:PARA) in a research report released on Thursday morning, Marketbeat reports. The firm currently has a $12.00 price objective on the stock, down from their previous price objective of $13.00.

PARA has been the topic of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 21st. UBS Group lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research report on Wednesday, April 2nd. Finally, Morgan Stanley lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.54.

Paramount Global Price Performance

Shares of PARA opened at $12.18 on Thursday. The stock has a market cap of $8.21 billion, a PE ratio of -1.48, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $13.05. The firm’s 50-day simple moving average is $11.50 and its two-hundred day simple moving average is $11.17.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Paramount Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its holdings in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the last quarter. Bell Investment Advisors Inc increased its stake in shares of Paramount Global by 100.3% in the first quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company’s stock worth $27,000 after purchasing an additional 1,123 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in shares of Paramount Global in the fourth quarter worth $28,000. Ossiam increased its stake in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Paramount Global in the fourth quarter worth $31,000. 73.00% of the stock is owned by hedge funds and other 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.