Paramount Global (NASDAQ:PARA) Trading Up 4.2%

Paramount Global (NASDAQ:PARA)’s share price was up 4.2% during trading on Wednesday . The stock traded as high as $10.90 and last traded at $10.87. Approximately 6,800,672 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 18,960,006 shares. The stock had previously closed at $10.43.

Wall Street Analyst Weigh In

Several analysts have recently commented on PARA shares. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price objective on shares of Paramount Global in a research note on Tuesday, April 9th. Moffett Nathanson raised Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target for the company in a research report on Tuesday, January 9th. Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Finally, Morgan Stanley decreased their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Paramount Global currently has a consensus rating of “Hold” and a consensus target price of $13.79.

Paramount Global Stock Up 13.4 %

The company has a market cap of $8.12 billion, a P/E ratio of -11.79, a price-to-earnings-growth ratio of 0.38 and a beta of 1.77. The company has a 50 day moving average of $11.53 and a 200-day moving average of $12.85. 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 (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. The company had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. On average, equities analysts predict that Paramount Global will post 1.2 earnings per share for the current year.

Paramount Global Announces Dividend

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 paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is -19.61%.

Institutional Investors Weigh In On Paramount Global

A number of large investors have recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC purchased a new position in shares of Paramount Global in the third quarter worth about $25,000. Anchor Investment Management LLC purchased a new position in shares of Paramount Global in the fourth quarter worth about $30,000. Archer Investment Corp purchased a new position in shares of Paramount Global in the fourth quarter worth about $30,000. Cornerstone Planning Group LLC purchased a new position in shares of Paramount Global in the second quarter worth about $30,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Paramount Global in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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.