Analysts Set Paramount Global (NASDAQ:PARA) Target Price at $12.43

Shares of Paramount Global (NASDAQ:PARA) have been given an average rating of “Reduce” by the seventeen ratings firms that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $12.43.

A number of research firms recently weighed in on PARA. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Guggenheim reduced their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th.

Paramount Global Stock Performance

NASDAQ PARA opened at $10.46 on Friday. The business’s 50 day moving average price is $10.84 and its 200-day moving average price is $10.75. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $15.70. The company has a market cap of $6.98 billion, a P/E ratio of -1.27, a P/E/G ratio of 1.35 and a beta of 1.71. 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 (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 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 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. Sell-side analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

Hedge Funds Weigh In On Paramount Global

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares during the period. Huntington National Bank lifted its stake in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in Paramount Global during the second quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the second quarter valued at about $43,000. Finally, Kennebec Savings Bank purchased a new position in Paramount Global in the third quarter valued at about $47,000. 73.00% of the stock is currently owned by institutional investors.

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.