Paramount Global (NASDAQ:PARA) Announces Quarterly Earnings Results

Paramount Global (NASDAQ:PARA) released its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29), Zacks reports. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion.

Paramount Global Price Performance

Shares of PARA stock traded up $0.20 during mid-day trading on Friday, hitting $11.44. 1,556,999 shares of the stock traded hands, compared to its average volume of 8,972,247. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of -1.39, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The company’s 50-day simple moving average is $10.80 and its 200-day simple moving average is $10.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global Announces Dividend

The company also recently declared 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 1.75%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Analyst Ratings Changes

A number of brokerages have recently commented on PARA. Macquarie reissued an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday. Morgan Stanley boosted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Finally, Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.