Paramount Global (NASDAQ:PARA) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Paramount Global (NASDAQ:PARA) in a report published on Thursday morning,Benzinga reports.

A number of other brokerages have also recently issued reports on PARA. Macquarie reissued an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Morgan Stanley lifted their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Six investment 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. According to data from MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and an average target price of $12.58.

Paramount Global Trading Up 0.2 %

Shares of Paramount Global stock opened at $11.24 on Thursday. The company’s fifty day simple moving average is $10.80 and its 200-day simple moving average is $10.74. The company has a market cap of $7.50 billion, a price-to-earnings ratio of -1.37, a PEG ratio of 1.68 and a beta of 1.69. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54.

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

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. Paramount Global’s payout ratio is -2.43%.

Institutional Trading of Paramount Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares during the period. Blue Trust Inc. grew its position in shares of Paramount Global by 162.8% during the 3rd 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 grew its position 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 buying an additional 1,561 shares during the period. Ossiam grew its position in shares of Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after buying an additional 1,022 shares during the period. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global during the 4th quarter worth about $31,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.