Guggenheim Lowers Paramount Global (NASDAQ:PARA) Price Target to $14.00

Paramount Global (NASDAQ:PARA) had its price target trimmed by Guggenheim from $19.00 to $14.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Evercore ISI reduced their price target on shares of Paramount Global from $13.00 to $11.50 and set an in-line rating on the stock in a research report on Tuesday, July 9th. Rosenblatt Securities reissued a neutral rating and issued a $14.00 target price on shares of Paramount Global in a research note on Tuesday, June 4th. The Goldman Sachs Group started coverage on Paramount Global in a research report on Tuesday, June 25th. They set a sell rating and a $9.50 price target on the stock. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $12.00 to $11.00 and set an underweight rating for the company in a research report on Thursday, August 15th. Finally, Wolfe Research downgraded shares of Paramount Global from a peer perform rating to an underperform rating and set a $10.00 target price on the stock. in a report on Tuesday, July 9th. Ten equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $12.18.

Paramount Global Stock Up 1.2 %

Shares of Paramount Global stock opened at $10.79 on Wednesday. The business has a fifty day simple moving average of $10.71 and a 200 day simple moving average of $11.31. The stock has a market cap of $7.19 billion, a PE ratio of -71.93, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (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 positive return on equity of 4.88% and a negative net margin of 17.62%. Research analysts predict that Paramount Global will post 1.57 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -133.32%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PARA. Lingotto Investment Management LLP grew its stake in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of Paramount Global in the 4th quarter valued at about $84,842,000. Vanguard Group Inc. increased its stake in shares of Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after purchasing an additional 3,803,928 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new position in shares of Paramount Global during the 1st quarter worth about $33,191,000. Finally, Norges Bank bought a new stake in shares of Paramount Global in the 4th quarter valued at about $41,497,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

About Paramount Global

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.