Paramount Global (NASDAQ:PARA) Shares Gap Up to $12.89

Paramount Global (NASDAQ:PARA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $12.89, but opened at $13.34. Paramount Global shares last traded at $13.35, with a volume of 6,727,882 shares trading hands.

Analyst Ratings Changes

PARA has been the topic of several recent analyst reports. Argus downgraded shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Raymond James reissued a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft lowered their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Tuesday, April 30th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday. Nine analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.58.

Paramount Global Trading Down 3.0 %

The company’s 50 day moving average is $11.63 and its two-hundred day moving average is $12.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The firm has a market cap of $8.59 billion, a P/E ratio of -85.93, a PEG ratio of 0.39 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the previous year, the business posted $0.09 earnings per share. Paramount Global’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Paramount Global will post 1.32 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s payout ratio is -133.33%.

Institutional Investors Weigh In On Paramount Global

Large investors have recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new stake in Paramount Global during the third quarter worth about $25,000. Anchor Investment Management LLC acquired a new stake in Paramount Global during the 4th quarter valued at $30,000. Archer Investment Corp bought a new position in Paramount Global in the 4th quarter valued at $30,000. WFA of San Diego LLC grew its holdings in shares of Paramount Global by 635.0% during the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in shares of Paramount Global by 55.1% in the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock valued at $38,000 after buying an additional 1,056 shares in the last quarter. 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.