Paramount Global (NASDAQ:PARA) Stock Rating Lowered by StockNews.com

Paramount Global (NASDAQ:PARA) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other brokerages have also commented on PARA. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, August 15th. Guggenheim lowered their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group started coverage on shares of Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price on the stock. Eleven research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.18.

Paramount Global Price Performance

NASDAQ:PARA opened at $10.52 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of -69.40, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The company has a 50 day moving average price of $10.62 and a 200-day moving average price of $11.28. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.14 by $0.40. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. Equities research analysts forecast that Paramount Global will post 1.57 EPS for the current year.

Institutional Trading of Paramount Global

Institutional investors and hedge funds have recently bought and sold shares of the stock. New Hampshire Trust increased its stake in Paramount Global by 6.2% during the first quarter. New Hampshire Trust now owns 15,767 shares of the company’s stock worth $186,000 after purchasing an additional 914 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Paramount Global by 3.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after purchasing an additional 934 shares during the period. Great Valley Advisor Group Inc. increased its stake in Paramount Global by 5.3% during the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after purchasing an additional 1,002 shares during the period. Prestige Wealth Management Group LLC increased its stake in Paramount Global by 13.2% during the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after purchasing an additional 1,011 shares during the period. Finally, Personal CFO Solutions LLC increased its stake in Paramount Global by 2.4% during the fourth quarter. Personal CFO Solutions LLC now owns 43,468 shares of the company’s stock worth $643,000 after purchasing an additional 1,030 shares during the period. 73.00% of the stock is currently owned by hedge funds and other 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.