Paramount Global (NASDAQ:PARA) Releases Quarterly Earnings Results, Misses Estimates By $0.29 EPS

Paramount Global (NASDAQ:PARA) announced its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29), Zacks reports. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%.

Paramount Global Stock Down 2.4 %

Shares of NASDAQ PARA traded down $0.28 during mid-day trading on Wednesday, reaching $11.22. 10,442,127 shares of the company’s stock were exchanged, compared to its average volume of 9,015,326. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. 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 capitalization of $7.48 billion, a price-to-earnings ratio of -1.36, a PEG ratio of 1.68 and a beta of 1.69. The business has a fifty day simple moving average of $10.77 and a 200 day simple moving average of $10.73.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. Paramount Global’s payout ratio is -2.43%.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research analyst reports. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley raised their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, Macquarie reissued an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.58.

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.