Paramount Global (NASDAQ:PARAA) Stock Price Up 6.2%

Paramount Global (NASDAQ:PARAA - Get Free Report)'s share price shot up 6.2% during trading on Monday . The company traded as high as 23.98 and last traded at 23.80. 62,196 shares were traded during mid-day trading, a decline of 19% from the average session volume of 76,994 shares. The stock had previously closed at 22.42.

Analyst Ratings Changes

Separately, Seaport Res Ptn lowered Paramount Global from a "buy" rating to a "neutral" rating in a research report on Thursday.

Paramount Global Trading Up 4.3 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The stock has a market cap of $15.26 billion, a P/E ratio of -159.86 and a beta of 1.66. The stock has a 50-day moving average price of 21.87 and a 200-day moving average price of 19.88.

Paramount Global (NASDAQ:PARAA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported 0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of 0.08 by -0.04. The firm had revenue of 7.64 billion for the quarter, compared to the consensus estimate of 7.89 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. During the same period last year, the firm earned $0.08 EPS. On average, equities research analysts expect that Paramount Global will post 1.25 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.86%. Paramount Global's dividend payout ratio is currently -133.32%.

Institutional Trading of Paramount Global

Several large investors have recently modified their holdings of PARAA. Allspring Global Investments Holdings LLC raised its holdings in Paramount Global by 5.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company's stock worth $239,000 after purchasing an additional 537 shares in the last quarter. GAMMA Investing LLC raised its holdings in Paramount Global by 708.2% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company's stock worth $28,000 after purchasing an additional 1,126 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Paramount Global by 8.8% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 81,700 shares of the company's stock valued at $1,606,000 after buying an additional 6,600 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Paramount Global by 29.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company's stock worth $557,000 after buying an additional 8,007 shares during the period. Finally, Raymond James & Associates purchased a new stake in shares of Paramount Global in the 4th quarter worth about $205,000. 5.98% of the stock is owned by institutional investors.

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.

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