Paramount Global (NASDAQ:PARA) Rating Lowered to Sell at StockNews.com

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

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft dropped their price target on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley reduced their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 27th. Loop Capital lowered Paramount Global from a “hold” rating to a “sell” rating and set a $12.00 price target on the stock. in a research note on Friday, December 8th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Paramount Global in a report on Thursday, February 29th. Finally, Redburn Atlantic cut Paramount Global from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Ten investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.05.

Paramount Global Price Performance

NASDAQ:PARA opened at $11.70 on Tuesday. The business’s 50-day moving average price is $12.28 and its 200 day moving average price is $13.05. The firm has a market cap of $7.63 billion, a P/E ratio of -11.47, a PEG ratio of 0.41 and a beta of 1.76. Paramount Global has a 52-week low of $10.16 and a 52-week high of $24.00. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.08 EPS. As a group, sell-side analysts predict that Paramount Global will post 1.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

Several institutional investors and hedge funds have recently bought and sold shares of PARA. VisionPoint Advisory Group LLC bought a new position in shares of Paramount Global in the third quarter worth $25,000. Anchor Investment Management LLC purchased a new stake in Paramount Global during the fourth quarter valued at about $30,000. Archer Investment Corp purchased a new stake in Paramount Global during the fourth quarter valued at about $30,000. Cornerstone Planning Group LLC purchased a new stake in Paramount Global during the second quarter valued at about $30,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Paramount Global during the fourth quarter valued at about $32,000. 73.00% of the stock is 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.