Paramount Global (NASDAQ:PARA) Announces Quarterly Earnings Results

Paramount Global (NASDAQ:PARA) released its quarterly earnings data on Monday. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28, Briefing.com reports. The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.73 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS.

Paramount Global Trading Up 2.9 %

Shares of PARA stock opened at $12.25 on Tuesday. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of -12.01, a PEG ratio of 0.42 and a beta of 1.77. The company’s fifty day simple moving average is $11.48 and its two-hundred day simple moving average is $12.88. Paramount Global has a 1 year low of $10.12 and a 1 year high of $24.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Moffett Nathanson upgraded Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price on the stock in a report on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Redburn Atlantic cut Paramount Global from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $17.00 to $11.00 in a research note on Thursday, January 11th. Morgan Stanley reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, February 27th. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Eight equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.79.

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.