Edgar Bronfman Eyes $2 Billion-Plus Bid for Company That Controls Paramount
Former media executive Edgar Bronfman Jr., backed by private-equity firm Bain Capital, has expressed interest in buying the company that controls Paramount Global PARA -0.83%decrease; red down pointing triangle, marking yet another twist in one of the messiest deal dramas in recent memory.
3 Up-and-Coming Media Stocks Set to Shake Up the Sector
Media stocks are a tricky investment. While legacy media stocks like Paramount Global (NASDAQ: PARA ) were once dominant, their waning influence makes their former blue-chip status increasingly untenable.
Streamers Paramount and Warner Bros Are Changing the Game
Paramount plans “transforming streaming” to help make up for declines in the linear business, as traditional TV continues to lose viewers.
Revised Skydance offer would let Paramount shareholders cash out at $15/shr, WSJ reports
Skydance Media last week revised its offer for Paramount Global to buy up to a certain number of non-voting Paramount shares at $15 each, the Wall Street Journal reported on Sunday citing people familiar with the matter.
Why Is Paramount Global-B (PARA) Up 5.4% Since Last Earnings Report?
Paramount Global-B (PARA) reported earnings 30 days ago. What's next for the stock?
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M&A News: Paramount (NASDAQ:PARA) Slips as NDAs Get Involved
It’s another new step closer to a deal for media company Paramount (NASDAQ:PARA), as it, along with Sony (NYSE:SONY) and Apollo Global Management (NYSE:APO), have all signed non-disclosure agreements. The
Natixis Advisors L.P. Invests $239,000 in Paramount Global (NASDAQ:PARA)
Natixis Advisors L.P. purchased a new stake in Paramount Global (NASDAQ:PARA – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,194 shares of the company’s stock, valued at approximately $239,000. Other hedge funds also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Paramount Global by 5.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after purchasing an additional 769 shares in the last quarter. Highlander Capital Management LLC boosted its position in Paramount Global by 13.4% during the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after buying an additional 850 shares during the period. Kestra Private Wealth Services LLC grew its holdings in Paramount Global by 3.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock worth $431,000 after acquiring an additional 879 shares during the last quarter. Arizona State Retirement System increased its position in Paramount Global by 0.7% in the 4th quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after acquiring an additional 887 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Paramount Global by 1.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,971 shares of the company’s stock valued at $724,000 after acquiring an additional 897 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock. Paramount Global Price Performance Shares of NASDAQ:PARA opened at $12.02 on Monday. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of -80.13, a PEG ratio of 0.36 and a beta of 1.74. The stock’s 50 day moving average is $11.95 and its 200-day moving average is $13.01. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. Paramount Global has a twelve month low of $10.12 and a twelve month high of $17.50. Paramount Global (NASDAQ:PARA – Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Paramount Global will post 1.32 EPS for the current fiscal year. Paramount Global Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.66%. Paramount Global’s dividend payout ratio is presently -133.32%. Analyst Ratings Changes A number of analysts recently weighed in on PARA shares. Seaport Res Ptn downgraded Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. Raymond James reissued a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Argus lowered Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company dropped their price target on shares of Paramount Global from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.58. Check Out Our Latest Stock Report on PARA Paramount Global Profile (Free Report) 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. See Also Five stocks we like better than Paramount Global How to buy stock: A step-by-step guide for beginners MarketBeat Week in Review – 5/13 – 5/17 ESG Stocks, What Investors Should Know Take-Two Interactive Software Offers 2nd Chance for Investors How to Calculate Retirement Income: MarketBeat’s Calculator Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook Want to see what other hedge funds are holding PARA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paramount Global (NASDAQ:PARA – Free Report).
