Paramount Global (NASDAQ:PARAA) Trading 4.8% Higher

Paramount Global (NASDAQ:PARAAGet Free Report)’s stock price shot up 4.8% during trading on Monday . The company traded as high as 21.82 and last traded at 21.45. 60,927 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 76,354 shares. The stock had previously closed at 20.47.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn lowered shares of Paramount Global from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd.

View Our Latest Analysis on Paramount Global

Paramount Global Stock Performance

The stock has a 50-day moving average of 20.41 and a 200 day moving average of 20.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19.

Paramount Global (NASDAQ:PARAAGet Free Report) last posted its earnings results on Monday, April 29th. The company reported 0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of 0.25 by 0.37. The company had revenue of 7.69 billion during the quarter, compared to the consensus estimate of 7.85 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. Sell-side analysts predict that Paramount Global will post 1.25 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 0.94%. Paramount Global’s dividend payout ratio is presently -133.32%.

Hedge Funds Weigh In On Paramount Global

A number of large investors have recently bought and sold shares of the business. Honeycomb Asset Management LP purchased a new position in Paramount Global during the fourth quarter valued at $880,000. GAMMA Investing LLC increased its stake in Paramount Global by 708.2% during the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $28,000 after buying an additional 1,126 shares in the last quarter. Ninety One UK Ltd acquired a new position in shares of Paramount Global during the fourth quarter valued at approximately $3,421,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Paramount Global by 29.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $557,000 after acquiring an additional 8,007 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in shares of Paramount Global in the fourth quarter worth approximately $284,000. Institutional investors and hedge funds own 5.98% of the company’s stock.

Paramount Global Company Profile

(Get Free Report)

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 ChilevisiĆ³n; 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.

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