Paramount Global (NASDAQ:PARA) Price Target Lowered to $20.00 at Morgan Stanley

Paramount Global (NASDAQ:PARAGet Rating) had its price objective cut by Morgan Stanley from $22.00 to $20.00 in a report released on Friday morning, The Fly reports. They currently have an underweight rating on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Paramount Global from a neutral rating to an underweight rating and set a $25.00 price target for the company. in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Paramount Global from $35.00 to $32.00 and set a buy rating for the company in a research report on Tuesday. Barclays decreased their price target on shares of Paramount Global from $24.00 to $20.00 and set an underweight rating for the company in a research report on Thursday, July 14th. Citigroup decreased their price objective on shares of Paramount Global from $44.00 to $37.00 and set a buy rating for the company in a research report on Thursday, July 7th. Finally, Moffett Nathanson lowered shares of Paramount Global from a neutral rating to a sell rating and decreased their price objective for the company from $30.00 to $18.00 in a research report on Friday, July 22nd. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Paramount Global has a consensus rating of Hold and an average price target of $24.54.

Paramount Global Trading Down 4.1 %

NASDAQ PARA opened at $24.26 on Friday. The business has a 50-day moving average of $26.21. The company has a current ratio of 1.47, a quick ratio of 1.48 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $15.75 billion, a PE ratio of 4.69, a PEG ratio of 1.24 and a beta of 1.55. Paramount Global has a 12 month low of $23.15 and a 12 month high of $42.17.

Paramount Global (NASDAQ:PARAGet Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $7.78 billion during the quarter, compared to analyst estimates of $7.55 billion. Paramount Global had a net margin of 11.60% and a return on equity of 6.74%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. As a group, sell-side analysts forecast that Paramount Global will post 2.51 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.96%. Paramount Global’s dividend payout ratio is presently 18.57%.

About Paramount Global

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Paramount Global operates as a media and entertainment company worldwide. The company distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24-hour cable channel that provides sports and related content, as well as streaming and cable subscription services.

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