In yesterday’s Wall Street session, Paramount Global (NASDAQ:PARA) shares traded at $11.20, down -0.09% from the previous session.
PARA stock price is now -11.73% away from the 50-day moving average and -19.70% away from the 200-day moving average. The market capitalization of the company currently stands at $7.31B.
With the price target reduced from $17 to $11, Redburn Atlantic Downgraded its rating from Neutral to Sell for Paramount Global (NASDAQ: PARA). On January 09, 2024, MoffettNathanson Upgraded its previous ‘Sell’ rating to ‘Neutral’ on the stock keeping its target price maintained at $13, while ‘Wells Fargo’ rates the stock as ‘Equal Weight’
In other news, REDSTONE SHARI, Director bought 165,000 shares of the company’s stock on May 16 ’23. 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 $6.46 million. A total of 11.52% of the company’s stock is owned by insiders.
During the past 12 months, Paramount Global has had a low of $10.16 and a high of $24.00. As of last week, the company has a debt-to-equity ratio of 0.72, a current ratio of 1.32, and a quick ratio of 1.17. The fifty day moving average price for PARA is $12.62 and a two-hundred day moving average price translates $13.93 for the stock.
The latest earnings results from Paramount Global (NASDAQ: PARA) was released for Dec, 2023. According to the Entertainment Company, earnings per share came in at $0.04, beating analysts’ expectations of -$0.01 by 0.05. This compares to $0.31 EPS in the same period last year. The net profit margin was -3.72% and return on equity was -5.64% for PARA. The company reported revenue of $7.64 billion for the quarter, compared to $8.13 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.06 percent. For the current quarter, analysts expect PARA to generate $7.81B in revenue.
