In yesterday’s Wall Street session, Paramount Global (NASDAQ:PARA) shares traded at $18.41, up 1.49% from the previous session.
28 analysts cover Paramount Global (NASDAQ:PARA), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $32.00 and a low of $11.00, we find $18.00. Given the previous closing price of $18.14, this indicates a potential downside of -0.77 percent. PARA stock price is now -5.49% away from the 50-day moving average and -32.29% away from the 200-day moving average. The market capitalization of the company currently stands at $10.64B.
The stock has received a hold rating from 11 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $19.44 as their price target over the next twelve months.
With the price target reduced from $19 to $13, Wells Fargo Downgraded its rating from Equal Weight to Underweight for Paramount Global (NASDAQ: PARA). On October 04, 2022, Wells Fargo Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock reducing its target price from $40 to quote $19, while ‘JP Morgan’ rates the stock as ‘Underweight’.
In other news, NATIONAL AMUSEMENTS INC /MD/, Director bought 646,764 shares of the company’s stock on May 17. The stock was bought for $20,935,233 at an average price of $32.37. Upon completion of the transaction, the Director now directly owns 32,012,190 shares in the company, valued at $589.34 million. Insiders disposed of 211,901 shares of company stock worth roughly $3.9 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PARA stock. A new stake in Paramount Global shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $19,119,000. SQUAREPOINT OPS LLC invested $10,987,000 in shares of PARA during the first quarter. In the first quarter, CRAWFORD INVESTMENT COUNSEL INC acquired a new stake in Paramount Global valued at approximately $5,972,000. QUADRATURE CAPITAL LTD acquired a new stake in PARA for approximately $5,723,000. BLUESHIFT ASSET MANAGEMENT, LLC purchased a new stake in PARA valued at around $3,078,000 in the second quarter. In total, there are 1,150 active investors with 79.80% ownership of the company’s stock.
On Thursday morning Paramount Global (NASDAQ: PARA) stock kicked off with the opening price of $17.80. During the past 12 months, Paramount Global has had a low of $15.29 and a high of $39.21. As of last week, the company has a debt-to-equity ratio of 0.70, a current ratio of 1.30, and a quick ratio of 1.20. The fifty day moving average price for PARA is $19.48 and a two-hundred day moving average price translates $27.19 for the stock.
The latest earnings results from Paramount Global (NASDAQ: PARA) was released for Jun, 2022. According to the Entertainment Company, earnings per share came in at $0.64, beating analysts’ expectations of $0.61 by 0.03. This compares to $0.11 EPS in the same period last year. The net profit margin was 10.30% and return on equity was 13.60% for PARA. The company reported revenue of $6.92 billion for the quarter, compared to $6.61 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.63 percent. For the current quarter, analysts expect PARA to generate $7.01B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/03/2023. Investors who held shares on 12/15/2022 were paid a $0.24 dividend. On an annualized basis, this represents a $0.96 dividend and a 5.21% percent yield. There was an ex-dividend date of 12/14/2022 for this dividend. In terms of dividend payout ratio, PARA is presently at 20.20%.
Paramount Global(PARA) Company Profile
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Showtime, BET, Nickelodeon, MTV, Comedy Central, Paramount Network, Smithsonian Channel, and CBS Sports Network. It is also involved in the television production operations; and ownership of broadcast television stations. The Direct-to-Consumer segment provides a portfolio of direct-to-consumer streaming services, including Paramount+, Pluto TV, Showtime Networks’ premium subscription streaming service, BET+, and Noggin. The Filmed Entertainment segment operates produces franchise live-action and animated films, and genre films for audiences. It operates under the Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, and Miramax names. The company was formerly known as ViacomCBS Inc. and changed its name to Paramount Global in February 2022. Paramount Global was incorporated in 1986 and is headquartered in New York, New York. Paramount Global operates as a subsidiary of National Amusements, Inc.