Paramount Global (NASDAQ:PARA) Expected to Post Quarterly Sales of $7.33 Billion

Equities research analysts expect that Paramount Global (NASDAQ:PARAGet Rating) will report sales of $7.33 billion for the current quarter, Zacks reports. Twelve analysts have provided estimates for Paramount Global’s earnings, with estimates ranging from $7.01 billion to $7.89 billion. Paramount Global reported sales of $6.56 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.7%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Paramount Global will report full year sales of $30.67 billion for the current year, with estimates ranging from $29.77 billion to $32.22 billion. For the next financial year, analysts forecast that the firm will report sales of $32.46 billion, with estimates ranging from $31.07 billion to $34.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Paramount Global.

Paramount Global (NASDAQ:PARAGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.39 billion. Paramount Global had a return on equity of 7.90% and a net margin of 14.26%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share.

PARA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Paramount Global from $45.00 to $43.00 in a research note on Wednesday, May 4th. Citigroup dropped their price objective on Paramount Global from $47.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday. Zacks Investment Research upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. JPMorgan Chase & Co. began coverage on Paramount Global in a research note on Friday, April 1st. They set a “neutral” rating and a $42.00 price target on the stock. Finally, UBS Group lowered their price target on Paramount Global from $33.00 to $29.00 in a research note on Friday, March 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.40.

Paramount Global stock opened at $33.09 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 0.73. The business has a 50-day simple moving average of $33.56. The company has a market capitalization of $21.48 billion, a price-to-earnings ratio of 5.42, a PEG ratio of 1.48 and a beta of 1.58. Paramount Global has a 52 week low of $26.11 and a 52 week high of $47.46.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors 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 2.90%. Paramount Global’s dividend payout ratio is 15.71%.

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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Earnings History and Estimates for Paramount Global (NASDAQ:PARA)

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