Paramount Global (NASDAQ:PARA) PT Lowered to $14.00 at Wells Fargo & Company

Paramount Global (NASDAQ:PARA) had its price target decreased by Wells Fargo & Company from $15.00 to $14.00 in a report published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other analysts also recently commented on the company. Rosenblatt Securities reissued a neutral rating and issued a $13.00 price objective on shares of Paramount Global in a research note on Tuesday, April 9th. Morgan Stanley dropped their price target 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, February 27th. Wolfe Research upgraded shares of Paramount Global from an underperform rating to a peer perform rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Paramount Global from $20.00 to $15.00 and set a buy rating on the stock in a report on Wednesday, February 28th. Finally, Redburn Atlantic cut shares of Paramount Global from a neutral rating to a sell rating and reduced their target price for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $13.58.

Paramount Global Price Performance

PARA stock traded down $0.97 during trading on Tuesday, hitting $12.89. The company had a trading volume of 66,615,145 shares, compared to its average volume of 20,278,648. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of -92.39, a P/E/G ratio of 0.40 and a beta of 1.74. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $11.52 and a 200 day moving average of $12.88. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $19.04.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. During the same period in the prior year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Paramount Global will post 1.23 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

Institutional Trading of Paramount Global

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Paramount Global by 541.7% during the fourth quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock worth $10,481,000 after buying an additional 598,235 shares in the last quarter. Ariel Investments LLC boosted its position in shares of Paramount Global by 18.0% during the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock valued at $146,168,000 after acquiring an additional 1,731,714 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Paramount Global in the third quarter valued at about $1,240,000. Caprock Group LLC raised its position in Paramount Global by 2.9% in the fourth quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock worth $746,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Paramount Global by 1,201.5% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock worth $1,282,000 after purchasing an additional 78,100 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.