Paramount Global Covered by StockNews.com with a Hold Rating

StockNews.com has recently initiated coverage on Paramount Global (NASDAQ:PARA), as noted in a report made available to investors on Sunday. The research firm has assigned a "hold" rating to the company's stock, suggesting a cautious approach for potential investors.

In addition to StockNews.com, other brokerages have also shared their insights regarding Paramount Global. Notably, Morgan Stanley raised its target price for PARA shares from $10.00 to $11.00, maintaining an "underweight" rating, in a report published on February 4th. Conversely, Guggenheim affirmed a "buy" rating while setting a price target of $14.00 for the stock on February 27th. Also on February 27th, Needham & Company LLC reiterated a "hold" rating for Paramount Global. Finally, Benchmark issued a "buy" rating with a targeted price of $19.00. Collectively, six analysts have rated the stock as a sell, six have classified it as a hold, and two analysts have recommended a buy, establishing a consensus rating of "Hold" with an average target price of $12.10, according to MarketBeat.

Paramount Global Stock Overview

On Friday, Paramount Global shares opened at $11.56. The company's current market capitalization stands at approximately $7.71 billion, with a price-to-earnings ratio of -1.41 and a P/E/G ratio of 1.68, indicating volatility. Its 50-day moving average price is $11.28, while the two-hundred day moving average price is $10.89. The stock has experienced a low of $9.54 and a high of $14.54 over the past year. Financially, Paramount Global shows a debt-to-equity ratio of 0.85 along with a current ratio of 1.27 and a quick ratio of 1.10.

The company recently announced its earnings results on February 26th, indicating challenges as it reported earnings per share (EPS) of ($0.11), falling short of analysts' expectations by $0.29, which was set at $0.18. This performance came with a negative net margin of 18.89% but a positive return on equity of 5.81%. Revenues for the quarter totaled $7.98 billion, below the forecast of $8.07 billion. Analysts expect Paramount Global to deliver an EPS of 1.77 for the current fiscal year.

Institutional Investor Interest in Paramount Global

Several institutional investors have altered their stakes in Paramount Global recently. For instance, Vanguard Group Inc. increased its holdings by 1.1% in the fourth quarter, now owning 67,040,366 shares valued at approximately $701.24 million after acquiring an additional 761,561 shares. Lingotto Investment Management LLP also boosted its holdings by 3.7%, with a total of 44,753,299 shares worth $468.12 million after an additional purchase of 1,593,579 shares. State Street Corp raised its position by 18.4% in the third quarter, totaling 44,154,027 shares valued at $470.70 million after an extra 6,848,037 shares were acquired. Invesco Ltd. improved its stake by 5.7% in the fourth quarter, now holding 20,593,954 shares worth $215.41 million. Moreover, Geode Capital Management LLC increased its shares by 4.9%, amassing 15,567,531 shares valued at $162.73 million. Overall, institutional investors control approximately 73.00% of Paramount Global's stock.

About Paramount Global

Paramount Global operates as a multimedia corporation engaged in streaming and entertainment activities worldwide. The company is structured into several segments, including TV Media, Direct-to-Consumer, and Filmed Entertainment. The TV Media segment encompasses CBS Television Network, a domestic broadcasting network, along with other brands in various international markets.

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