Paramount Global (NASDAQ:PARA) Issues Earnings Results

Paramount Global (NASDAQ:PARA) issued its quarterly earnings results on Wednesday. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29), Zacks reports. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%.

Paramount Global Stock Down 2.4 %

PARA traded down $0.28 during trading on Wednesday, hitting $11.22. The company had a trading volume of 10,623,975 shares, compared to its average volume of 9,070,826. The company has a market capitalization of $7.48 billion, a PE ratio of -1.36, a PEG ratio of 1.68 and a beta of 1.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The firm’s 50-day moving average price is $10.77 and its 200 day moving average price is $10.73.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio is -2.43%.

Analyst Ratings Changes

PARA has been the topic of a number of analyst reports. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie restated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Finally, Morgan Stanley upped their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and a consensus target price of $12.58.

Paramount Global 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.