Paramount Global (NASDAQ:PARA) Announces Quarterly Earnings Results

Paramount Global (NASDAQ:PARA) released its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 Performance

Shares of PARA stock traded down $0.28 during trading on Wednesday, reaching $11.22. 10,623,975 shares of the company’s stock were exchanged, compared to its average volume of 9,070,826. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The firm’s fifty day moving average price is $10.77 and its 200-day moving average price is $10.73. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock 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.

Paramount Global Announces Dividend

The firm 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 $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.78%. Paramount Global’s payout ratio is -2.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PARA. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Macquarie reissued an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Six 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. According to data from MarketBeat.com, 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.