Paramount Global (NASDAQ:PARA) Earns “Market Perform” Rating from Raymond James

Raymond James reaffirmed their market perform rating on shares of Paramount Global (NASDAQ:PARA) in a research note published on Tuesday morning, Benzinga reports.

PARA has been the subject of a number of other reports. StockNews.com lowered Paramount Global from a hold rating to a sell rating in a research report on Tuesday. Moffett Nathanson upgraded Paramount Global from a sell rating to a neutral rating and set a $13.00 target price on the stock in a report on Tuesday, January 9th. Loop Capital cut Paramount Global from a hold rating to a sell rating and set a $12.00 target price on the stock. in a report on Friday, December 8th. Morgan Stanley reduced their target price on Paramount Global from $11.00 to $10.00 and set an underweight rating on the stock in a report on Tuesday, February 27th. Finally, Wells Fargo & Company upgraded Paramount Global from an underweight rating to an equal weight rating and raised their target price for the stock from $15.00 to $18.00 in a report on Wednesday, December 20th. Ten research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $14.05.

Paramount Global Price Performance

Shares of PARA stock opened at $11.77 on Tuesday. The stock has a 50-day moving average price of $12.22 and a 200 day moving average price of $13.03. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of -11.54, a PEG ratio of 0.42 and a beta of 1.76. Paramount Global has a 12 month low of $10.16 and a 12 month high of $24.00.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. Research analysts expect that Paramount Global will post 1.21 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, March 14th. Paramount Global’s dividend payout ratio (DPR) is -19.61%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors acquired a new position in shares of Paramount Global during the 2nd quarter worth approximately $767,000. Marshall Wace LLP acquired a new position in shares of Paramount Global during the 3rd quarter worth approximately $3,099,000. Two Sigma Investments LP acquired a new position in shares of Paramount Global during the 3rd quarter worth approximately $4,764,000. Thrivent Financial for Lutherans acquired a new position in shares of Paramount Global during the 3rd quarter worth approximately $2,288,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Paramount Global during the 3rd quarter worth approximately $5,682,000. 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.