Paramount Global (NASDAQ:PARA) Expected to Post Quarterly Sales of $7.47 Billion

Analysts forecast that Paramount Global (NASDAQ:PARAGet Rating) will announce $7.47 billion in sales for the current quarter, according to Zacks. Eleven analysts have provided estimates for Paramount Global’s earnings, with the lowest sales estimate coming in at $7.18 billion and the highest estimate coming in at $7.72 billion. Paramount Global reported sales of $7.41 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.8%. The firm is expected to report its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Paramount Global will report full-year sales of $30.78 billion for the current financial year, with estimates ranging from $29.77 billion to $32.22 billion. For the next financial year, analysts forecast that the business will report sales of $32.56 billion, with estimates ranging from $31.07 billion to $34.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Paramount Global.

A number of equities analysts have recently commented on PARA shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Paramount Global from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. Zacks Investment Research downgraded Paramount Global from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 12th. Rosenblatt Securities began coverage on Paramount Global in a research report on Tuesday, April 19th. They set a “sell” rating and a $29.00 price objective for the company. JPMorgan Chase & Co. began coverage on Paramount Global in a report on Friday, April 1st. They issued a “neutral” rating and a $42.00 price target for the company. Finally, began coverage on Paramount Global in a report on Thursday, March 31st. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.25.

Shares of Paramount Global stock opened at $30.27 on Tuesday. Paramount Global has a one year low of $27.25 and a one year high of $47.46. The firm has a market capitalization of $19.63 billion, a P/E ratio of 4.38, a PEG ratio of 1.32 and a beta of 1.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.60 and a current ratio of 1.76. The stock’s 50-day moving average is $34.87.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Tuesday, June 14th. Paramount Global’s dividend payout ratio is currently 13.89%.

About Paramount Global (Get Rating)

Paramount Global operates as a media and entertainment company worldwide. The company distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24-hour cable channel that provides sports and related content, as well as streaming and cable subscription services.

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