As we move further into the year 2023, one of the notable stocks in the media industry is Paramount Global (NASDAQ:PARA). According to Bloomberg’s sources, the company has received an average “Hold” recommendation score from its 24 analysts covering the stock. As expected, analysts have varying opinions on the future of PARA stock, with ten giving it a sell rating, three issuing a hold rating and five providing a buy rating.
The average target price for PARA stock stands at $22.45 per share, as mentioned by brokers who covered the stock within last year. Considering that PARA opened at $22.13 on April 13th, investors could still perceive this communication from analysts in different ways.
Paramount Global operates primarily as a mass media entertainment company engaging film production and distribution across various platforms globally. To sustain operations effectively in these areas that are prone to disruptions and changes in audience preferences over time, Paramount Global engages four business segments currently: Entertainment, Cable Networks, Publishing and Local Media.
On Thursday April 13th this year, PARA exchange closed after opening at $22.13 per share with other vital indicators open for scrutiny when making investment decisions such as debt-to-equity ratio of 0.66% , current ratio of 1.23%, quick ration if 1.11%. Also noteworthy are MA50 (50days moving average) standing at $21.91 per share and MA200 (200days moving average) at currently $19.99per share.
In retrospect looking back into Parmount Global Stocks performance; amid its recent trading activities indicated through high-low figures of $36.98 and$15.29 respectively-combining a compelling valuation amidst ongoing uncertainties around PARA gives rise to further curiosity amongst potential investors looking to diversify their portfolio in Q2-2023.
Crucially closing out with data released by Paramount’s Management on stock market indicators; there is a market cap of $14.40 billion, price-to-earnings ratio of 13.83, PEG (price-to-earnings-growth) figure of 3.78 while in direct comparison to similar companies in the industry: The Beta results stand at 1.64.
Paramount Global continues to provide competitive investments opportunities in the media and entertainment industry for potential investors interested in diversifying their portfolio amidst the current economic uncertainty.
Mixed Ratings for Paramount Global as Bank of America Boosts Target Price to $32.00
Paramount Global, a mass media company that creates and distributes content across various platforms, recently saw a boost in its target price by Bank of America. The bank raised the company from a “neutral” rating to a “buy” rating and increased the target price from $24.00 to $32.00 on March 28th. This comes after other institutions, such as Rosenblatt Securities and Needham & Company LLC, have also issued their ratings and target prices for the company.
However, not all institutions are bullish on Paramount Global. Loop Capital cut the company’s rating from a “hold” to a “sell” rating and reduced the target price from $30.00 to $14.00 in late December 2022. StockNews.com also began coverage of Paramount Global with a “sell” rating on March 16th.
Despite these mixed ratings, institutional investors have shown interest in buying shares of Paramount Global. Companies such as Vanguard Group Inc., BlackRock Inc., State Street Corp, Price T Rowe Associates Inc., and Dimensional Fund Advisors LP have all acquired new positions in shares of Paramount Global.
Paramount Global operates through several segments, including Entertainment, Cable Networks, Publishing, and Local Media. Its Entertainment segment is composed of CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films. The company reported earnings data on February 16th for the quarter with EPS below consensus estimates.
Shares of Paramount Global currently offer an annualized dividend of $0.96 per share with a yield of 4.34%, reflecting a payout ratio of 60%.
As we move through April 2023 one thing remains certain – while there may be differing opinions on the outlook for Paramount Global’s future performance; this global media powerhouse has not been out of our collective minds since it first entered the media market some two decades ago – proof positive that the power of smart, relevant content speaks volumes to audiences around the world.