Paramount Global (NASDAQ:PARAA – Get Free Report)’s stock price was up 3.7% during trading on Tuesday . The company traded as high as 18.61 and last traded at 18.58. Approximately 60,553 shares traded hands during trading, a decline of 19% from the average daily volume of 74,939 shares. The stock had previously closed at 17.92.
Analyst Upgrades and Downgrades
Separately, Seaport Res Ptn cut shares of Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd.
Read Our Latest Research Report on Paramount Global
Paramount Global Trading Up 6.6 %
Paramount Global (NASDAQ:PARAA – Get Free Report) last released its quarterly earnings results on Monday, April 29th. The company reported 0.62 EPS for the quarter, beating the consensus estimate of 0.25 by 0.37. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company had revenue of 7.69 billion for the quarter, compared to analyst estimates of 7.85 billion. Research analysts predict that Paramount Global will post 1.25 EPS for the current year.
Paramount Global Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, June 17th. Paramount Global’s dividend payout ratio is currently -133.32%.
Hedge Funds Weigh In On Paramount Global
Several hedge funds and other institutional investors have recently modified their holdings of the business. Honeycomb Asset Management LP purchased a new position in Paramount Global during the fourth quarter worth about $880,000. GAMMA Investing LLC raised its stake in Paramount Global by 708.2% during the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $28,000 after purchasing an additional 1,126 shares during the period. Ninety One UK Ltd purchased a new position in Paramount Global during the fourth quarter worth about $3,421,000. B. Riley Wealth Advisors Inc. raised its stake in Paramount Global by 29.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock worth $557,000 after purchasing an additional 8,007 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in Paramount Global during the fourth quarter worth about $284,000. 5.98% of the stock is owned by hedge funds and other institutional investors.
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.
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