Stocks of Paramount Global (NASDAQ:PARA) traded higher last session on Wall Street, down -0.70% to $11.37.
PARA stock price is now -8.05% away from the 50-day moving average and -17.77% away from the 200-day moving average. The market capitalization of the company currently stands at $7.42B.
With the price target enhanced from $9 to $13, Rosenblatt Upgraded its rating from Sell to Neutral for Paramount Global (NASDAQ: PARA). On January 11, 2024, Redburn Atlantic Downgraded its previous ‘Neutral’ rating to ‘Sell’ on the stock reducing its target price from $17 to quote $11, while ‘MoffettNathanson’ rates the stock as ‘Neutral’
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 $6.56 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 $12.33 and a two-hundred day moving average price translates $13.80 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 $7.8B in revenue.
