Paramount Global (NASDAQ:PARAA) Trading 0.1% Higher - Here's Why

Paramount Global (NASDAQ:PARAA - Get Free Report)'s share price traded up 0.1% during trading on Friday . The stock traded as high as $23.03 and last traded at $23.03. 7,535 shares traded hands during trading, a decline of 80% from the average session volume of 37,408 shares. The stock had previously closed at $23.01.

Paramount Global Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.18 and a current ratio of 1.29. The firm has a market cap of $15.53 billion, a P/E ratio of -2.80 and a beta of 1.29. The company has a 50-day moving average of $22.70 and a 200 day moving average of $22.63.

Paramount Global (NASDAQ:PARAA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.10). Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. On average, sell-side analysts anticipate that Paramount Global will post 2.25 EPS for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.87%. Paramount Global's dividend payout ratio (DPR) is currently -2.43%.

Institutional Investors Weigh In On Paramount Global

A number of institutional investors have recently made changes to their positions in PARAA. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Paramount Global by 1,152.0% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 125,200 shares of the company's stock worth $2,792,000 after purchasing an additional 115,200 shares during the period. Bank of New York Mellon Corp grew its stake in Paramount Global by 450.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company's stock valued at $2,784,000 after acquiring an additional 102,165 shares during the period. Millennium Management LLC grew its stake in Paramount Global by 41.2% in the fourth quarter. Millennium Management LLC now owns 230,283 shares of the company's stock valued at $5,135,000 after acquiring an additional 67,177 shares during the period. AQR Arbitrage LLC acquired a new position in Paramount Global in the fourth quarter valued at about $1,335,000. Finally, Strs Ohio acquired a new position in Paramount Global in the first quarter valued at about $1,193,000. 5.98% of the stock is owned by institutional investors and hedge funds.

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.

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