Paramount Global (NASDAQ:PARA) Stock Price Up 4.2%

Shares of Paramount Global (NASDAQ:PARA - Get Free Report) traded up 4.2% during trading on Wednesday . The stock traded as high as $10.90 and last traded at $10.87. 6,800,672 shares were traded during mid-day trading, a decline of 64% from the average session volume of 18,960,006 shares. The stock had previously closed at $10.43.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PARA shares. Wolfe Research upgraded shares of Paramount Global from an "underperform" rating to a "peer perform" rating in a report on Thursday, April 4th. JPMorgan Chase & Co. decreased their price target on Paramount Global from $13.00 to $12.00 and set an "underweight" rating for the company in a research note on Thursday, April 4th. Wells Fargo & Company raised Paramount Global from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $15.00 to $18.00 in a report on Wednesday, December 20th. StockNews.com upgraded Paramount Global from a "sell" rating to a "hold" rating in a report on Wednesday, April 10th. Finally, Redburn Atlantic cut Paramount Global from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Paramount Global has a consensus rating of "Hold" and a consensus price target of $13.79.

Paramount Global Stock Up 3.6 %

The company has a market cap of $7.05 billion, a P/E ratio of -10.60, a PEG ratio of 0.41 and a beta of 1.77. The business's 50 day moving average price is $11.57 and its 200-day moving average price is $12.87. 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 issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The firm had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company posted $0.08 EPS. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts anticipate that Paramount Global will post 1.17 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed 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 1.85%. The ex-dividend date is Monday, June 17th. Paramount Global's payout ratio is presently -19.61%.

Institutional Trading of Paramount Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alpha Omega Wealth Management LLC lifted its position in Paramount Global by 5.2% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 449,044 shares of the company's stock valued at $5,285,000 after purchasing an additional 22,349 shares during the period. Cannon Global Investment Management LLC acquired a new position in Paramount Global in the first quarter valued at approximately $344,000. Register Financial Advisors LLC lifted its holdings in Paramount Global by 54.5% in the first quarter. Register Financial Advisors LLC now owns 27,592 shares of the company's stock valued at $325,000 after buying an additional 9,730 shares during the period. Matrix Asset Advisors Inc. NY boosted its stake in Paramount Global by 2.1% in the first quarter. Matrix Asset Advisors Inc. NY now owns 355,859 shares of the company's stock valued at $4,188,000 after acquiring an additional 7,330 shares during the last quarter. Finally, AHL Investment Management Inc. grew its holdings in Paramount Global by 4.1% during the 1st quarter. AHL Investment Management Inc. now owns 53,832 shares of the company's stock worth $634,000 after acquiring an additional 2,135 shares during the period. Institutional investors and hedge funds own 73.00% of the company's stock.

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.