Paramount Global (NASDAQ:PARA) Downgraded to Sell at Loop Capital
Paramount Global (NASDAQ:PARA – Get Free Report) was downgraded by Loop Capital from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Briefing.com reports. They currently have a $12.00 target price on the stock. Loop Capital’s target price points to a potential downside of 30.23% from the stock’s current price.
PARA has been the topic of a number of other research reports. Barclays cut their price objective on shares of Paramount Global from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Monday, October 9th. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, November 17th. Citigroup reduced their target price on Paramount Global from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, August 15th. TheStreet lowered shares of Paramount Global from a “c-” rating to a “d+” rating in a research note on Friday, October 27th. Finally, Needham & Company LLC cut their price target on shares of Paramount Global from $28.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, October 9th. Eleven research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.61.
Check Out Our Latest Analysis on Paramount Global
Paramount Global Trading Up 14.4 %
Paramount Global stock traded up $2.17 during midday trading on Friday, reaching $17.20. The stock had a trading volume of 32,338,121 shares, compared to its average volume of 12,837,224. The stock’s 50-day simple moving average is $12.73 and its 200 day simple moving average is $14.29. Paramount Global has a twelve month low of $10.51 and a twelve month high of $25.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.09 and a current ratio of 1.26. The stock has a market capitalization of $11.20 billion, a PE ratio of -9.66, a price-to-earnings-growth ratio of 4.08 and a beta of 1.85.
Paramount Global (NASDAQ:PARA – Get Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.22. Paramount Global had a negative net margin of 3.65% and a positive return on equity of 1.89%. The business had revenue of $7.13 billion for the quarter, compared to the consensus estimate of $7.12 billion. Analysts expect that Paramount Global will post 0.52 EPS for the current year.
Institutional Trading of Paramount Global
Institutional investors have recently modified their holdings of the company. VisionPoint Advisory Group LLC bought a new stake in shares of Paramount Global during the 3rd quarter worth $25,000. Cornerstone Planning Group LLC acquired a new position in shares of Paramount Global in the second quarter worth about $30,000. ICA Group Wealth Management LLC purchased a new position in shares of Paramount Global in the fourth quarter worth approximately $32,000. WFA of San Diego LLC raised its holdings in shares of Paramount Global by 635.0% during the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after acquiring an additional 2,286 shares during the period. Finally, Pacific Center for Financial Services acquired a new position in Paramount Global in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 72.39% of the company’s stock.
About Paramount Global (Get Free Report)
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.
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Original: MarketBeat News Feed: Paramount Global (NASDAQ:PARA) Downgraded to Sell at Loop Capital