Research analysts at StockNews.com assumed coverage on shares of Paramount Global (NASDAQ:PARA – Get Rating) in a note issued to investors on Thursday. The firm set a “sell” rating on the stock.
Several other equities analysts have also commented on the company. Barclays decreased their price target on Paramount Global from $15.00 to $13.00 in a research note on Friday, May 12th. Macquarie lowered Paramount Global from a “neutral” rating to an “underperform” rating and set a $15.00 price target on the stock. in a research note on Tuesday, January 31st. Rosenblatt Securities reaffirmed a “sell” rating and issued a $13.00 price target on shares of Paramount Global in a research note on Wednesday, March 22nd. Benchmark reissued a “buy” rating and set a $31.00 target price on shares of Paramount Global in a research note on Wednesday, February 15th. Finally, Evercore ISI decreased their target price on Paramount Global from $25.00 to $18.00 in a research note on Friday, May 5th. Eleven research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.23.
Paramount Global Stock Up 4.1 %
Shares of NASDAQ:PARA opened at $15.57 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average of $20.42 and a two-hundred day moving average of $20.11. The stock has a market cap of $10.14 billion, a P/E ratio of -19.96, a PEG ratio of 3.68 and a beta of 1.64. Paramount Global has a 52-week low of $14.88 and a 52-week high of $34.50.
Paramount Global (NASDAQ:PARA – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.03). Paramount Global had a negative net margin of 1.49% and a positive return on equity of 3.64%. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same period last year, the company earned $0.60 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts expect that Paramount Global will post 0.71 earnings per share for the current year.
Insider Activity
In other Paramount Global news, Director Shari Redstone acquired 165,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average price of $15.06 per share, for a total transaction of $2,484,900.00. Following the acquisition, the director now owns 577,064 shares in the company, valued at approximately $8,690,583.84. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Berkshire Hathaway Inc grew its stake in Paramount Global by 2.7% during the 4th quarter. Berkshire Hathaway Inc now owns 93,637,189 shares of the company’s stock worth $1,580,596,000 after buying an additional 2,420,679 shares during the last quarter. Vanguard Group Inc. purchased a new position in Paramount Global during the 3rd quarter worth approximately $1,095,014,000. BlackRock Inc. grew its stake in Paramount Global by 30.4% during the 1st quarter. BlackRock Inc. now owns 54,882,034 shares of the company’s stock worth $1,224,418,000 after buying an additional 12,783,448 shares during the last quarter. State Street Corp grew its stake in Paramount Global by 7.3% during the 1st quarter. State Street Corp now owns 35,333,056 shares of the company’s stock worth $796,459,000 after buying an additional 2,402,874 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Paramount Global by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 11,450,500 shares of the company’s stock worth $255,814,000 after buying an additional 192,826 shares during the last quarter. Hedge funds and other institutional investors own 74.13% of the company’s stock.
Paramount Global Company Profile
Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.