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

Paramount Global (NASDAQ:PARA) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.05 per share on Tuesday, October 1st. This represents a $0.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, September 16th.

Paramount Global has decreased its dividend payment by an average of 25.9% per year over the last three years. Paramount Global has a payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Paramount Global to earn $1.54 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 13.0%.

Paramount Global Price Performance

PARA stock traded down $0.11 on Friday, reaching $11.00. 8,914,978 shares of the company’s stock were exchanged, compared to its average volume of 12,172,854. The stock has a fifty day moving average of $11.21 and a 200-day moving average of $11.86. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The firm has a market cap of $7.33 billion, a PE ratio of -73.33, a P/E/G ratio of 0.81 and a beta of 1.78. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PARA. Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Paramount Global in a report on Tuesday, June 4th. Argus lowered Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Wells Fargo & Company lowered Paramount Global from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $14.00 to $9.00 in a report on Wednesday, June 12th. Finally, Wolfe Research cut Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target for the company. in a research report on Tuesday, July 9th. Eleven investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Paramount Global presently has an average rating of “Hold” and an average price target of $12.83.

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.