Paramount Global (NASDAQ:PARA) Trading 3.2% Higher – What’s Next?

Shares of Paramount Global (NASDAQ:PARA) were up 3.2% during mid-day trading on Monday . The stock traded as high as $11.85 and last traded at $11.93. Approximately 4,198,792 shares changed hands during trading, a decline of 66% from the average daily volume of 12,399,798 shares. The stock had previously closed at $11.56.

Analyst Ratings Changes

Several brokerages recently weighed in on PARA. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com assumed coverage on Paramount Global in a report on Sunday. They issued a “hold” rating on the stock. Guggenheim reissued a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Wednesday. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.09.

Paramount Global Price Performance

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 business’s fifty day moving average price is $11.34 and its 200-day moving average price is $10.92. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of -1.43, a PEG ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion for 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%. On average, research analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global’s payout ratio is currently -2.15%.

Institutional Trading of Paramount Global

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Paramount Global by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock valued at $701,242,000 after purchasing an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP boosted its stake in shares of Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock worth $468,120,000 after buying an additional 1,593,579 shares during the last quarter. State Street Corp boosted its stake in shares of Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after buying an additional 6,848,037 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Paramount Global by 5.7% in the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company’s stock valued at $215,413,000 after acquiring an additional 1,119,314 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock worth $162,731,000 after acquiring an additional 724,565 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Company Profile

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.