Paramount Global (NASDAQ:PARAA) Stock Price Up 0.1% - What's Next?

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

Paramount Global Stock Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.29 and a quick ratio of 1.18. The stock has a market cap of $15.69 billion, a price-to-earnings ratio of -2.83 and a beta of 1.29. The company's fifty day simple moving average is $22.70 and its two-hundred day simple moving average is $22.64.

Paramount Global (NASDAQ:PARAA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $7.14 billion. On average, analysts forecast that Paramount Global will post 2.25 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were given a dividend of $0.05 per share. The ex-dividend date was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 0.86%. Paramount Global's dividend payout ratio (DPR) is currently -2.43%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Paramount Global by 1,090.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,119 shares of the company's stock worth $25,000 after purchasing an additional 1,025 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Paramount Global by 34.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,366 shares of the company's stock worth $77,000 after buying an additional 865 shares during the last quarter. State of Wyoming increased its holdings in shares of Paramount Global by 97.9% during the 4th 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 in the last quarter. Mariner LLC increased its holdings in shares of Paramount Global by 10.0% during the 4th quarter. Mariner LLC now owns 15,657 shares of the company's stock valued at $349,000 after purchasing an additional 1,425 shares in the last quarter. Finally, SageView Advisory Group LLC increased its holdings in shares of Paramount Global by 25.9% during the 1st quarter. SageView Advisory Group LLC now owns 18,000 shares of the company's stock valued at $409,000 after purchasing an additional 3,700 shares in the last quarter. Hedge funds and other institutional investors own 5.98% 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.