Paramount Global (NASDAQ:PARAA) Sets New 1-Year High - What's Next?

Shares of Paramount Global (NASDAQ:PARAA - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $22.74 and last traded at $22.66, with a volume of 20264 shares traded. The stock had previously closed at $22.72.

Paramount Global Trading Up 0.5 %

The stock has a market cap of $15.11 billion, a PE ratio of -2.74 and a beta of 1.39. The company has a 50 day moving average of $22.62 and a two-hundred day moving average of $22.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARAA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.27). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Sell-side analysts anticipate that Paramount Global will post 2.25 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.89%. Paramount Global's dividend payout ratio is presently -2.15%.

Hedge Funds Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Poehling Capital Management INC. increased its stake in Paramount Global by 8.3% in the first quarter. Poehling Capital Management INC. now owns 243,714 shares of the company's stock valued at $5,544,000 after purchasing an additional 18,758 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Paramount Global by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 130,744 shares of the company's stock valued at $2,974,000 after acquiring an additional 5,912 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Paramount Global by 4,605.4% during the first quarter. GAMMA Investing LLC now owns 22,727 shares of the company's stock worth $517,000 after purchasing an additional 22,244 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in Paramount Global by 6.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 38,500 shares of the company's stock worth $876,000 after purchasing an additional 2,500 shares during the period. Finally, State of Wyoming increased its holdings in shares of Paramount Global by 97.9% in the fourth quarter. State of Wyoming now owns 4,788 shares of the company's stock valued at $107,000 after purchasing an additional 2,369 shares during the period. Hedge funds and other institutional investors own 5.98% of the company's stock.

Paramount Global Company Profile

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.