Paramount Global (NASDAQ:PARA) PT Lowered to $25.00 at Deutsche Bank Aktiengesellschaft

Paramount Global (NASDAQ:PARA – Get Rating) had its price objective lowered by equities researchers at Deutsche Bank Aktiengesellschaft from $28.00 to $25.00 in a report released on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 77.56% from the company’s previous close.

Other equities analysts have also issued reports about the company. Credit Suisse Group upped their target price on Paramount Global from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, February 17th. Bank of America raised Paramount Global from a “neutral” rating to a “buy” rating and upped their target price for the company from $24.00 to $32.00 in a report on Tuesday, March 28th. Benchmark reissued a “buy” rating and set a $31.00 price objective on shares of Paramount Global in a report on Wednesday, February 15th. Macquarie lowered Paramount Global from a “neutral” rating to an “underperform” rating and set a $15.00 price objective for the company. in a report on Tuesday, January 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of Paramount Global in a report on Friday, April 14th. Eleven analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and an average price target of $21.09.

Paramount Global Stock Down 3.8 %

PARA stock opened at $14.08 on Wednesday. The company has a market cap of $9.17 billion, a P/E ratio of -18.05, a price-to-earnings-growth ratio of 3.86 and a beta of 1.64. Paramount Global has a fifty-two week low of $13.80 and a fifty-two week high of $34.50. The stock’s 50 day simple moving average is $19.82 and its 200 day simple moving average is $19.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.12.

Paramount Global (NASDAQ:PARA – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Paramount Global had a positive return on equity of 3.64% and a negative net margin of 1.49%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, research analysts expect that Paramount Global will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Shari Redstone purchased 165,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were acquired at an average price of $15.06 per share, for a total transaction of $2,484,900.00. Following the completion of the transaction, the director now directly owns 577,064 shares of the company’s stock, valued at approximately $8,690,583.84. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paramount Global

A number of large investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new position in shares of Paramount Global in the third quarter worth about $1,281,000. South Dakota Investment Council bought a new stake in shares of Paramount Global in the third quarter worth about $367,000. Asset Management One Co. Ltd. bought a new stake in shares of Paramount Global in the third quarter worth about $4,872,000. Seven Eight Capital LP bought a new stake in shares of Paramount Global in the third quarter worth about $858,000. Finally, Metis Global Partners LLC bought a new stake in shares of Paramount Global in the fourth quarter worth about $366,000. Hedge funds and other institutional investors own 74.13% of the company’s stock.

Paramount Global Company Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.