Paramount Global (NASDAQ:PARA – Get Free Report) shares rose 6.5% during mid-day trading on Monday . The stock traded as high as $11.65 and last traded at $11.64. Approximately 10,029,652 shares were traded during trading, a decline of 40% from the average daily volume of 16,816,482 shares. The stock had previously closed at $10.93.
Analyst Upgrades and Downgrades
PARA has been the subject of a number of recent research reports. Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a report on Tuesday, January 9th. Loop Capital downgraded Paramount Global from a “hold” rating to a “sell” rating and set a $12.00 price target on the stock. in a research note on Friday, December 8th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $15.00 to $18.00 in a research note on Wednesday, December 20th. StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Benchmark decreased their target price on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Eleven investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.84.
Paramount Global Stock Performance
The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The stock’s 50 day moving average price is $12.92 and its 200 day moving average price is $13.29. The company has a market capitalization of $7.58 billion, a P/E ratio of -11.18, a price-to-earnings-growth ratio of 0.40 and a beta of 1.76.
Paramount Global (NASDAQ:PARA – Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The company had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company earned $0.08 EPS. Paramount Global’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts expect that Paramount Global will post 1.2 EPS for the current year.
Paramount Global Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, March 14th. Paramount Global’s payout ratio is -19.61%.
Institutional Investors Weigh In On Paramount Global
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ariel Investments LLC raised its stake in shares of Paramount Global by 18.0% during the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock worth $146,168,000 after purchasing an additional 1,731,714 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Paramount Global in the third quarter valued at about $1,240,000. Rock Point Advisors LLC grew its position in shares of Paramount Global by 23.2% during the 3rd quarter. Rock Point Advisors LLC now owns 572,620 shares of the company’s stock valued at $7,387,000 after acquiring an additional 107,782 shares during the period. Point72 Middle East FZE purchased a new stake in shares of Paramount Global during the 2nd quarter worth approximately $7,438,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Paramount Global in the 3rd quarter worth approximately $840,000. 72.39% of the stock is owned by hedge funds and other institutional investors.
Paramount Global Company Profile
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.