Capital Financial Services LLC purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,000 shares of the company's stock, valued at approximately $743,000.
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Other institutional investors have also modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Paramount Global in the 2nd quarter worth $104,561,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Paramount Global during the second quarter worth about $598,000. Captrust Financial Advisors acquired a new position in shares of Paramount Global during the second quarter valued at about $767,000. Verition Fund Management LLC purchased a new position in shares of Paramount Global in the 2nd quarter valued at approximately $510,000. Finally, Birmingham Capital Management Co. Inc. AL acquired a new stake in Paramount Global in the 2nd quarter worth approximately $1,949,000. 74.13% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on PARA. Loop Capital lowered shares of Paramount Global from a "hold" rating to a "sell" rating and cut their price target for the company from $30.00 to $14.00 in a research note on Friday, December 23rd. Royal Bank of Canada lowered their price target on Paramount Global from $34.00 to $28.00 and set an "outperform" rating for the company in a research report on Thursday, November 3rd. Guggenheim increased their price objective on Paramount Global from $20.00 to $22.00 in a report on Thursday, January 12th. Macquarie downgraded Paramount Global from a "neutral" rating to an "underperform" rating and set a $15.00 target price for the company. in a report on Tuesday. Finally, Credit Suisse Group cut their price target on shares of Paramount Global from $31.00 to $24.00 and set a "neutral" rating on the stock in a report on Wednesday, October 12th. Ten analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned 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 target price of $21.68.
Paramount Global Stock Down 0.0 %
Shares of PARA traded down $0.01 during midday trading on Wednesday, hitting $23.15. The company had a trading volume of 849,579 shares, compared to its average volume of 10,576,456. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.31. Paramount Global has a 1 year low of $15.29 and a 1 year high of $39.21. The firm has a market capitalization of $15.03 billion, a P/E ratio of 4.93, a P/E/G ratio of 1.36 and a beta of 1.51. The company's 50-day simple moving average is $19.16 and its 200-day simple moving average is $20.78.
Paramount Global (NASDAQ:PARA - Get Rating) last posted its earnings results on Wednesday, November 2nd. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.05 billion. Paramount Global had a return on equity of 5.55% and a net margin of 10.46%. As a group, sell-side analysts expect that Paramount Global will post 1.8 EPS for the current year.
About Paramount Global
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.
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