Paramount Global (NASDAQ:PARA – Get Free Report)’s share price gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $13.00 to $12.00. The stock had previously closed at $13.52, but opened at $12.39. JPMorgan Chase & Co. currently has an underweight rating on the stock. Paramount Global shares last traded at $12.26, with a volume of 12,388,127 shares changing hands.
A number of other equities research analysts also recently commented on PARA. Redburn Atlantic downgraded Paramount Global from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Benchmark decreased their price objective on Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Raymond James restated a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Rosenblatt Securities upgraded Paramount Global from a “sell” rating to a “neutral” rating and upped their price objective for the company from $9.00 to $13.00 in a research report on Thursday, March 21st. Finally, Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and a consensus target price of $13.79.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of PARA. Pacific Center for Financial Services bought a new stake in Paramount Global during the 1st quarter valued at $35,000. ICA Group Wealth Management LLC bought a new stake in Paramount Global during the 4th quarter valued at $32,000. Cornerstone Planning Group LLC purchased a new stake in shares of Paramount Global during the 2nd quarter valued at $30,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Paramount Global during the 3rd quarter valued at $25,000. Finally, Archer Investment Corp purchased a new stake in shares of Paramount Global during the 4th quarter valued at $30,000. Institutional investors own 73.00% of the company’s stock.
Paramount Global Price Performance
The company has a market cap of $8.07 billion, a PE ratio of -12.13, a price-to-earnings-growth ratio of 0.42 and a beta of 1.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The stock has a 50 day moving average of $12.11 and a 200-day moving average of $12.99.
Paramount Global (NASDAQ:PARA – Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The company 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 firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. Equities analysts predict that Paramount Global will post 1.21 earnings per share for the current year.
Paramount Global Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Thursday, March 14th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.
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.