Paramount Global (NASDAQ:PARA - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $13.30, but opened at $12.00. Paramount Global shares last traded at $11.98, with a volume of 2,083,746 shares traded.
Wall Street Analyst Weigh In
A number of analysts have weighed in on PARA shares. Guggenheim restated a "buy" rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, June 26th. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $12.00 and gave the company an "underweight" rating in a report on Friday. Loop Capital boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company a "sell" rating in a report on Friday, July 25th. Citigroup reissued a "neutral" rating and set a $12.00 price objective (down from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Finally, Wells Fargo & Company dropped their price objective on shares of Paramount Global from $12.00 to $10.00 and set an "underweight" rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Paramount Global currently has an average rating of "Hold" and an average target price of $11.70.
Check Out Our Latest Analysis on Paramount Global
Paramount Global Price Performance
The firm's fifty day simple moving average is $12.52 and its two-hundred day simple moving average is $11.73. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84. The firm has a market cap of $8.77 billion, a PE ratio of -433.52, a P/E/G ratio of 3.86 and a beta of 1.19.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.53%. The firm had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.88 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The company's quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts expect that Paramount Global will post 1.77 EPS for the current year.
Paramount Global Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 16th. Paramount Global's payout ratio is currently -666.67%.
Institutional Investors Weigh In On Paramount Global
Large investors have recently bought and sold shares of the business. Bell Investment Advisors Inc increased its position in Paramount Global by 100.3% in the first quarter. Bell Investment Advisors Inc now owns 2,243 shares of the company's stock worth $27,000 after purchasing an additional 1,123 shares during the last quarter. Mattson Financial Services LLC bought a new position in shares of Paramount Global in the fourth quarter worth about $28,000. Ossiam grew its holdings in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after purchasing an additional 1,022 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Paramount Global in the fourth quarter worth about $35,000. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Paramount Global in the fourth quarter worth about $36,000. Institutional investors own 73.00% 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 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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