The price of Paramount Global (NASDAQ:PARA) shares last traded on Wall Street rose 4.15% to $15.57.
Based on available information, 29 analysts follow Paramount Global (NASDAQ:PARA). 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 $17.00. Given the previous closing price of $14.95, this indicates a potential upside of 13.71 percent. PARA stock price is now -24.21% away from the 50-day moving average and -25.15% away from the 200-day moving average. The market capitalization of the company currently stands at $10.47B.
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Among analysts, 8 rate the stock a hold while 7 rate it a buy. Brokers who have rated the stock have averaged $18.75 as their price target over the next twelve months.
With the price target enhanced from $24 to $32, BofA Securities Upgraded its rating from Neutral to Buy for Paramount Global (NASDAQ: PARA). On January 31, 2023, Macquarie Downgraded its previous ‘Neutral’ rating to ‘Underperform’ on the stock keeping its target price maintained at $15, while ‘Loop Capital’ rates the stock as ‘Sell’.
In other news, REDSTONE SHARI, Director bought 165,000 shares of the company’s stock on May 16. The stock was bought for $2,485,560 at an average price of $15.06. Upon completion of the transaction, the Director now directly owns 577,064 shares in the company, valued at $8.98 million. Insiders disposed of 248,202 shares of company stock worth roughly $3.86 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 CAPITAL WORLD INVESTORS during the first quarter worth $289,780,000. TWO SIGMA INVESTMENTS, LP invested $28,735,000 in shares of PARA during the first quarter. In the first quarter, COATUE MANAGEMENT LLC acquired a new stake in Paramount Global valued at approximately $16,443,000. TWIN TREE MANAGEMENT, LP acquired a new stake in PARA for approximately $10,462,000. ARGI INVESTMENT SERVICES, LLC purchased a new stake in PARA valued at around $4,200,000 in the second quarter. In total, there are 1,109 active investors with 81.80% ownership of the company’s stock.
A candlestick chart of Paramount Global (NASDAQ: PARA) showed a price of $15.06 on Wednesday morning. During the past 12 months, Paramount Global has had a low of $14.91 and a high of $34.50. As of last week, the company has a debt-to-equity ratio of 0.73, a current ratio of 1.10, and a quick ratio of 1.00. The fifty day moving average price for PARA is $20.43 and a two-hundred day moving average price translates $20.76 for the stock.
The latest earnings results from Paramount Global (NASDAQ: PARA) was released for Mar, 2023. The net profit margin was -1.70% and return on equity was -2.20% for PARA. The company reported revenue of $7.26 billion for the quarter, compared to $7.33 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.86 percent.
Moreover, the firm recently paid out its quarterly dividend on 07/03/2023. Investors who held shares on 06/15/2023 were paid a $0.05 dividend. On an annualized basis, this represents a $0.20 dividend and a 1.28% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, PARA is presently at 95.20%.
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. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports. The company’s Direct-to-Consumer segment provides portfolio of domestic and international pay and free streaming services, including Paramount+, Pluto TV, Showtime Networks’ subscription streaming service, BET+, and Noggin. The company’s Filmed Entertainment segment produces and acquires films, series, and short-form content for release; media licensing around the world, including in theaters, on streaming services, on television, digital home entertainment, and DVDs; and operates portfolio of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness, and Miramax. The company was formerly known as ViacomCBS Inc. and changed its name to Paramount Global in February 2022. The company was founded in 1914 and is headquartered in New York, New York. Paramount Global operates as a subsidiary of National Amusements, Inc.
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