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Paramount Global (NASDAQ:PARA – Get Rating) had its target price lowered by Evercore ISI from $25.00 to $18.00 in a note issued to investors on Friday, The Fly reports. Evercore ISI’s price objective suggests a potential upside of 13.14% from the stock’s previous close.
Several other equities research analysts have also commented on the stock. Rosenblatt Securities restated a “sell” rating and issued a $13.00 price target on shares of Paramount Global in a report on Wednesday, March 22nd. Benchmark restated a “buy” rating and issued a $31.00 price target on shares of Paramount Global in a report on Wednesday, February 15th. Bank of America upgraded shares of Paramount Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $32.00 in a research note on Tuesday, March 28th. Guggenheim boosted their price objective on shares of Paramount Global from $20.00 to $22.00 in a research note on Thursday, January 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Paramount Global in a research note on Friday, April 14th. Eleven analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.00.
Paramount Global Trading Down 3.0 %
PARA traded down $0.49 on Friday, reaching $15.91. 19,425,859 shares of the company traded hands, compared to its average volume of 11,618,397. Paramount Global has a one year low of $15.29 and a one year high of $34.50. The firm has a fifty day simple moving average of $21.52 and a two-hundred day simple moving average of $20.31. The company has a market cap of $10.35 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 3.04 and a beta of 1.64. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 0.66.
Paramount Global (NASDAQ:PARA – Get Rating) last posted 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 net margin of 3.66% and a return on equity of 5.03%. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities research analysts expect that Paramount Global will post 0.86 earnings per share for the current year.
Institutional Trading of Paramount Global
Several large investors have recently made changes to their positions in the business. Brinker Capital Investments LLC boosted its holdings in shares of Paramount Global by 1.6% in the 4th quarter. Brinker Capital Investments LLC now owns 29,322 shares of the company’s stock valued at $495,000 after acquiring an additional 448 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Paramount Global by 4.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,034 shares of the company’s stock valued at $186,000 after acquiring an additional 485 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Paramount Global by 4.7% in the 4th quarter. Synovus Financial Corp now owns 12,978 shares of the company’s stock valued at $219,000 after acquiring an additional 588 shares during the last quarter. Independent Wealth Network Inc. boosted its holdings in shares of Paramount Global by 6.0% in the 1st quarter. Independent Wealth Network Inc. now owns 10,845 shares of the company’s stock valued at $242,000 after acquiring an additional 612 shares during the last quarter. Finally, IFG Advisory LLC boosted its holdings in shares of Paramount Global by 0.9% in the 1st quarter. IFG Advisory LLC now owns 72,884 shares of the company’s stock valued at $1,626,000 after acquiring an additional 625 shares during the last quarter. 74.13% of the stock is owned by hedge funds and other institutional investors.
About Paramount Global
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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.
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