Paramount Global (NASDAQ:PARA - Get Free Report) saw unusually large options trading activity on Friday. Stock traders bought 80,915 call options on the company. This represents an increase of 42% compared to the typical daily volume of 57,112 call options.
Paramount Global Stock Up 13.4 %
PARA traded up $1.47 on Friday, reaching $12.44. 45,595,589 shares of the company traded hands, compared to its average volume of 19,282,934. The stock's 50 day moving average price is $11.53 and its 200-day moving average price is $12.85. Paramount Global has a 52-week low of $10.12 and a 52-week high of $24.00. The company has a market cap of $8.12 billion, a price-to-earnings ratio of -11.79, a PEG ratio of 0.38 and a beta of 1.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17.
Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.09. The company had revenue of $7.64 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, sell-side analysts expect that Paramount Global will post 1.2 EPS for the current fiscal year.
Paramount Global Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.61%. The ex-dividend date is Monday, June 17th. Paramount Global's dividend payout ratio is -19.61%.
Wall Street Analyst Weigh In
A number of research firms recently commented on PARA. Rosenblatt Securities reiterated a "neutral" rating and issued a $13.00 target price on shares of Paramount Global in a report on Tuesday, April 9th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Paramount Global in a report on Thursday, February 29th. StockNews.com upgraded shares of Paramount Global from a "sell" rating to a "hold" rating in a report on Wednesday, April 10th. Wolfe Research upgraded shares of Paramount Global from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 4th. Finally, Moffett Nathanson upgraded shares of Paramount Global from a "sell" rating to a "neutral" rating and set a $13.00 target price on the stock in a report on Tuesday, January 9th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $13.79.
Get Our Latest Report on Paramount Global
Institutional Trading of Paramount Global
Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Paramount Global by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company's stock worth $862,058,000 after acquiring an additional 626,256 shares in the last quarter. BlackRock Inc. grew its position in Paramount Global by 30.4% in the first quarter. BlackRock Inc. now owns 54,882,034 shares of the company's stock worth $1,224,418,000 after acquiring an additional 12,783,448 shares in the last quarter. State Street Corp lifted its stake in shares of Paramount Global by 7.3% in the first quarter. State Street Corp now owns 35,333,056 shares of the company's stock worth $796,459,000 after buying an additional 2,402,874 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Paramount Global by 9.4% in the third quarter. Invesco Ltd. now owns 14,832,568 shares of the company's stock worth $191,340,000 after buying an additional 1,272,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Paramount Global by 15.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company's stock worth $171,567,000 after buying an additional 1,767,173 shares during the last quarter. 73.00% of the stock is owned by institutional investors.
Paramount Global Company Profile
(
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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.
Further Reading
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