Paramount Global (NASDAQ:PARA) Releases Earnings Results, Beats Expectations By $0.08 EPS

Paramount Global (NASDAQ:PARAGet Rating) issued its quarterly earnings results on Tuesday. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.08, MarketWatch Earnings reports. Paramount Global had a net margin of 15.89% and a return on equity of 10.85%. The company had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same period last year, the business earned $1.52 EPS. Paramount Global’s quarterly revenue was down 1.1% compared to the same quarter last year.

Shares of Paramount Global stock traded down $0.41 on Tuesday, reaching $29.86. The company’s stock had a trading volume of 467,046 shares, compared to its average volume of 7,562,175. Paramount Global has a 52 week low of $27.25 and a 52 week high of $47.46. The company’s fifty day moving average price is $34.87. The company has a quick ratio of 1.60, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a market cap of $19.37 billion, a P/E ratio of 4.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.58.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $0.96 annualized dividend and a yield of 3.22%. Paramount Global’s dividend payout ratio is 13.89%.

A number of brokerages have weighed in on PARA. Zacks Investment Research downgraded shares of Paramount Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 12th. StockNews.com initiated coverage on Paramount Global in a research report on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Paramount Global from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 14th. UBS Group reduced their price target on Paramount Global from $33.00 to $29.00 in a report on Friday, March 18th. Finally, JPMorgan Chase & Co. started coverage on shares of Paramount Global in a research note on Friday, April 1st. They issued a “neutral” rating and a $42.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.25.

Paramount Global Company Profile (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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