Paramount Global (NASDAQ:PARA) Price Target Lowered to $10.00 at UBS Group

Paramount Global (NASDAQ:PARA) had its price target dropped by equities researchers at UBS Group from $11.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the stock. UBS Group’s price target would indicate a potential downside of 7.71% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Wednesday, April 2nd. Finally, Morgan Stanley raised their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.92.

Paramount Global Trading Up 1.4 %

Shares of NASDAQ:PARA traded up $0.15 during trading on Tuesday, hitting $10.84. The company had a trading volume of 2,097,997 shares, compared to its average volume of 11,573,890. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a fifty day simple moving average of $11.36 and a two-hundred day simple moving average of $10.95. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, equities analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Institutional Trading of Paramount Global

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Paramount Global by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock valued at $701,242,000 after acquiring an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP lifted its holdings in Paramount Global by 3.7% during the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock worth $468,120,000 after buying an additional 1,593,579 shares during the last quarter. Invesco Ltd. boosted its holdings in Paramount Global by 5.7% in the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock valued at $215,413,000 after purchasing an additional 1,119,314 shares in the last quarter. Geode Capital Management LLC raised its holdings in Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock worth $162,731,000 after purchasing an additional 724,565 shares in the last quarter. Finally, Ariel Investments LLC grew its position in shares of Paramount Global by 3.2% in the 4th quarter. Ariel Investments LLC now owns 14,663,907 shares of the company’s stock valued at $153,384,000 after buying an additional 460,539 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.