Paramount Global (NASDAQ:PARA - Get Free Report)'s share price rose 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 traded hands during mid-day 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 equities research analysts recently commented on PARA shares. Benchmark reissued a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley lifted their target price 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. StockNews.com started coverage on Paramount Global in a research note on Sunday, March 30th. They issued a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research note on Wednesday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $12.09.
Check Out Our Latest Research Report on Paramount Global
Paramount Global Stock Down 3.6 %
The company's 50 day simple moving average is $11.38 and its 200-day simple moving average is $10.93. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.38 billion, a P/E ratio of -1.35, a PEG ratio of 1.68 and a beta of 1.60.
Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Research analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.
Paramount Global Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of PARA. Allworth Financial LP lifted its stake in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares during the period. Mattson Financial Services LLC bought a new position in Paramount Global in the fourth quarter worth approximately $28,000. Ossiam boosted its stake in shares of Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after acquiring an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of Paramount Global during the 4th quarter valued at $31,000. Finally, Rakuten Securities Inc. increased its stake in shares of Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after purchasing an additional 2,019 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.
Paramount Global Company Profile
(
Get Free Report)
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.
Further Reading
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