Paramount Global (NASDAQ:PARA) Price Target Lowered to $20.00 at Morgan Stanley

Paramount Global (NASDAQ:PARAGet Rating) had its price target cut by Morgan Stanley from $22.00 to $20.00 in a research report released on Friday, The Fly reports. They currently have an underweight rating on the stock.

A number of other brokerages have also weighed in on PARA. Daiwa Capital Markets assumed coverage on Paramount Global in a report on Friday, July 1st. They set a neutral rating and a $26.00 price objective on the stock. Moffett Nathanson lowered Paramount Global from a neutral rating to a sell rating and lowered their target price for the company from $30.00 to $18.00 in a report on Friday, July 22nd. Evercore ISI lowered their target price on Paramount Global from $36.00 to $28.00 in a report on Wednesday, July 27th. UBS Group lowered their target price on Paramount Global to $22.00 in a report on Tuesday, July 26th. Finally, Rosenblatt Securities lowered their target price on Paramount Global from $25.00 to $19.00 and set a sell rating on the stock in a report on Monday, July 11th. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $24.54.

Paramount Global Trading Down 4.1 %

Shares of NASDAQ PARA opened at $24.26 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.48 and a current ratio of 1.47. Paramount Global has a twelve month low of $23.15 and a twelve month high of $42.17. The company has a 50 day moving average price of $26.21. The stock has a market capitalization of $15.75 billion, a PE ratio of 4.69, a P/E/G ratio of 1.24 and a beta of 1.55.

Paramount Global (NASDAQ:PARAGet Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Paramount Global had a return on equity of 6.74% and a net margin of 11.60%. The business had revenue of $7.78 billion during the quarter, compared to analysts’ expectations of $7.55 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, research analysts predict that Paramount Global will post 2.51 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.96%. Paramount Global’s payout ratio is currently 18.57%.

Paramount Global Company Profile

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Paramount Global operates as a media and entertainment company worldwide. The company distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24-hour cable channel that provides sports and related content, as well as streaming and cable subscription services.

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