Paramount Global (NASDAQ:PARA) Releases Earnings Results, Beats Estimates By $0.28 EPS

Paramount Global (NASDAQ:PARA) issued its quarterly earnings data on Monday. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.34 by $0.28, Briefing.com reports. 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 during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the previous year, the company earned $0.09 earnings per share. Paramount Global’s revenue for the quarter was up 5.8% on a year-over-year basis.

Paramount Global Stock Performance

Shares of PARA stock opened at $12.26 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $23.45. The stock has a 50 day moving average price of $11.47 and a two-hundred day moving average price of $12.88.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.63%. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Needham & Company LLC lowered shares of Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday. StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Redburn Atlantic cut shares of Paramount Global from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Paramount Global in a research note on Tuesday, April 9th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.58.

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.