Paramount Global (NASDAQ:PARA – Get Free Report)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports.
PARA has been the subject of several other reports. Wolfe Research cut Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a report on Tuesday, July 9th. The Goldman Sachs Group began coverage on shares of Paramount Global in a research note on Tuesday, June 25th. They issued a “sell” rating and a $9.50 target price on the stock. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Evercore ISI dropped their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a report on Tuesday, July 9th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $14.00 target price on shares of Paramount Global in a research note on Tuesday, June 4th. Ten investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Paramount Global has an average rating of “Hold” and a consensus target price of $12.94.
View Our Latest Analysis on PARA
Paramount Global Price Performance
Paramount Global (NASDAQ:PARA – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.21 billion. On average, sell-side analysts forecast that Paramount Global will post 1.34 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Archer Investment Corp bought a new stake in Paramount Global during the 4th quarter valued at approximately $30,000. Atlas Capital Advisors LLC purchased a new stake in Paramount Global in the 2nd quarter worth $35,000. Friedenthal Financial bought a new position in shares of Paramount Global during the 4th quarter valued at about $39,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paramount Global during the second quarter valued at about $43,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Paramount Global in the fourth quarter worth about $44,000. 73.00% of the stock is 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 ChilevisiĆ³n; 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.
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