Paramount Global (NASDAQ:PARA) Issues Earnings Results, Misses Estimates By $0.29 EPS

Paramount Global (NASDAQ:PARA) announced its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29), Zacks reports. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%.

Paramount Global Trading Down 0.6 %

NASDAQ:PARA opened at $11.15 on Thursday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market cap of $7.44 billion, a PE ratio of -1.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The stock’s 50-day moving average is $10.78 and its two-hundred day moving average is $10.73.

Paramount Global Dividend Announcement

The business 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 dividend of $0.05 per share. 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 1.79%. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Wall Street Analysts Forecast Growth

PARA has been the subject of several research reports. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.58.

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.