Paramount Global (PARA) To Go Ex-Dividend on December 16th

Paramount Global (NASDAQ:PARA) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.05 per share on Thursday, January 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 16th.

Paramount Global has decreased its dividend by an average of 25.9% annually over the last three years. Paramount Global has a dividend payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Paramount Global to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 11.4%.

Paramount Global Trading Up 0.6 %

Shares of Paramount Global stock opened at $10.72 on Friday. The company has a fifty day moving average of $10.72 and a 200 day moving average of $11.31. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The company has a market capitalization of $7.15 billion, a P/E ratio of -71.06, a P/E/G ratio of 0.58 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.21 billion. On average, sell-side analysts anticipate that Paramount Global will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group began coverage on shares of Paramount Global in a research report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Benchmark reaffirmed a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Finally, Evercore ISI reduced their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Ten analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.18.

About Paramount Global

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.