Paramount Global (NASDAQ:PARA) Price Target Raised to $11.00

Paramount Global (NASDAQ:PARA) had its price objective boosted by Morgan Stanley from $10.00 to $11.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts have also weighed in on PARA. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie reiterated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.58.

Paramount Global Stock Performance

NASDAQ PARA opened at $10.84 on Tuesday. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.58 and a beta of 1.69. The business’s fifty day moving average is $10.76 and its 200-day moving average is $10.72. 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 has a one year low of $9.54 and a one year high of $14.54.

Paramount Global (NASDAQ:PARA) last released its earnings results 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 firm 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 company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. Equities research analysts predict that Paramount Global will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of 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 purchasing an additional 1,573 shares in the last quarter. Huntington National Bank increased its position in shares of Paramount Global by 129.0% in the third 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. Kennebec Savings Bank purchased a new stake in Paramount Global in the third quarter valued at approximately $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Paramount Global by 518.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after purchasing an additional 4,100 shares during the last quarter. Institutional investors 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.