Stocks of Paramount Global (NASDAQ:PARA) traded higher last session on Wall Street, up 0.64% to $11.07.
PARA stock price is now 1.03% away from the 50-day moving average and -10.76% away from the 200-day moving average. The market capitalization of the company currently stands at $7.38B.
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With the price target enhanced from $10 to $11, Wells Fargo Upgraded its rating from Underweight to Equal Weight for Paramount Global (NASDAQ: PARA). On July 09, 2024, Wolfe Research Downgraded its previous ‘Peer Perform’ rating to ‘Underperform’ on the stock keeping its target price maintained at $10, while ‘Goldman’ rates the stock as ‘Sell’
A total of 11.38% of the company’s stock is owned by insiders.
During the past 12 months, Paramount Global has had a low of $9.54 and a high of $17.50. As of last week, the company has a debt-to-equity ratio of 0.95, a current ratio of 1.30, and a quick ratio of 1.15. The fifty day moving average price for PARA is $10.939 and a two-hundred day moving average price translates $12.4051 for the stock.
The latest earnings results from Paramount Global (NASDAQ: PARA) was released for 2024-06-30. The net profit margin was -19.26% and return on equity was -30.01% for PARA. The company reported revenue of $6.81 billion for the quarter, compared to $7.62 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -10.54 percent.
Paramount Global(PARA) Company Profile
Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands. This segment also offers domestic and international television studio operations, including CBS Studios, Paramount Television Studios, and Showtime/MTV Entertainment Studios; CBS Media Ventures, which produces and distributes first-run syndicated programming; and digital properties consisting of CBS News Streaming and CBS Sports HQ. The Direct-to-Consumer segment provides a portfolio of domestic and international pay and free streaming services, including Paramount+, Pluto TV, BET+, and Noggin. The Filmed Entertainment segment produces and acquires films, series, and short-form content for release and licensing around the world, including in theaters, on streaming services, on television, through digital home entertainment, and DVDs/Blu-rays; and operates a portfolio consisting of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness, and Miramax. It also offers production, distribution, and advertising solutions. The company was formerly known as ViacomCBS Inc. and changed its name to Paramount Global in February 2022. The company was founded in 1914 and is headquartered in New York, New York. Paramount Global is a subsidiary of National Amusements, Inc.
