Paramount Global (PARA) Set to Announce Quarterly Earnings on Monday

Paramount Global (NASDAQ:PARA) will be announcing its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Paramount Global (NASDAQ:PARA) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The firm had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. On average, analysts expect Paramount Global to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Paramount Global Stock Up 13.4 %

PARA opened at $12.44 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of -12.20, a PEG ratio of 0.44 and a beta of 1.77. Paramount Global has a twelve month low of $10.12 and a twelve month high of $24.00. The company’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $12.87.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, June 17th. Paramount Global’s payout ratio is -19.61%.

Hedge Funds Weigh In On Paramount Global

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company’s stock worth $862,058,000 after buying an additional 626,256 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Paramount Global by 30.4% during the 1st quarter. BlackRock Inc. now owns 54,882,034 shares of the company’s stock valued at $1,224,418,000 after purchasing an additional 12,783,448 shares during the last quarter. State Street Corp grew its holdings in shares of Paramount Global by 7.3% during the 1st quarter. State Street Corp now owns 35,333,056 shares of the company’s stock valued at $796,459,000 after purchasing an additional 2,402,874 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Paramount Global by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 11,450,500 shares of the company’s stock valued at $255,814,000 after purchasing an additional 192,826 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Paramount Global by 0.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,827,484 shares of the company’s stock valued at $182,767,000 after purchasing an additional 79,641 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PARA shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. dropped their price target on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Paramount Global in a research note on Thursday, February 29th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price target on shares of Paramount Global in a research note on Tuesday, April 9th. Finally, Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research note on Tuesday, January 9th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.79.

About Paramount Global

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.