Teacher Retirement System of Texas purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 86,977 shares of the company's stock, valued at approximately $1,040,000.
Other large investors have also added to or reduced their stakes in the company. Mattson Financial Services LLC purchased a new stake in shares of Paramount Global during the fourth quarter worth about $28,000. Ossiam lifted its holdings in Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after buying an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of Paramount Global in the 4th quarter worth approximately $31,000. Atlas Capital Advisors Inc. bought a new stake in shares of Paramount Global in the 4th quarter worth approximately $35,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Paramount Global during the fourth quarter valued at approximately $36,000. Institutional investors own 73.00% of the company's stock.
Paramount Global Stock Performance
NASDAQ:PARA traded up $0.25 during mid-day trading on Monday, reaching $13.00. The company's stock had a trading volume of 10,486,832 shares, compared to its average volume of 8,535,719. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84. The stock has a market cap of $8.76 billion, a P/E ratio of -1.58, a PEG ratio of 3.86 and a beta of 1.19. The firm's fifty day moving average price is $12.14 and its two-hundred day moving average price is $11.49. Paramount Global has a 12-month low of $9.95 and a 12-month high of $13.29.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The firm had revenue of $7.19 billion during the quarter, compared to analysts' expectations of $7.14 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The firm's quarterly revenue was down 6.4% on a year-over-year basis. On average, equities analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.
Paramount Global Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.54%. Paramount Global's dividend payout ratio (DPR) is currently -2.43%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Benchmark cut their price target on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. UBS Group decreased their price target on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. Finally, Wall Street Zen assumed coverage on Paramount Global in a research report on Saturday, May 17th. They set a "hold" rating on the stock. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.67.
Check Out Our Latest Stock Analysis on Paramount Global
About Paramount Global
(
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 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.
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