Paramount Global (NASDAQ:PARA) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Paramount Global (NASDAQ:PARA) in a research note released on Monday,Benzinga reports.

A number of other research analysts also recently issued reports on PARA. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note 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 report on Thursday, August 15th. StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Guggenheim dropped their price objective 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, Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.40.

Paramount Global Trading Up 1.7 %

PARA stock opened at $11.35 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company’s 50 day moving average is $10.60 and its two-hundred day moving average is $11.09.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the business earned $0.30 EPS. Paramount Global’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts expect that Paramount Global will post 1.81 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -2.43%.

Institutional Investors Weigh In On Paramount Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings 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 last quarter. Great Valley Advisor Group Inc. boosted its position in shares of Paramount Global by 5.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after buying an additional 1,002 shares in the last quarter. Carson Advisory Inc. grew its stake in Paramount Global by 1.9% in the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after acquiring an additional 1,004 shares during the last quarter. Prestige Wealth Management Group LLC increased its holdings in Paramount Global by 13.2% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after acquiring an additional 1,011 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after acquiring an additional 1,067 shares during the last quarter. 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.