Paramount Global (NASDAQ:PARAA) Shares Gap Up to $21.06

Paramount Global (NASDAQ:PARAA)’s stock price gapped up before the market opened on Friday . The stock had previously closed at 21.06, but opened at 21.79. Paramount Global shares last traded at 21.85, with a volume of 10,907 shares.

Paramount Global Trading Up 4.7 %

The company has a market cap of $14.39 billion, a price-to-earnings ratio of -20.99 and a beta of 1.67. The business’s fifty day moving average price is 21.62 and its 200 day moving average price is 19.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17.

Paramount Global (NASDAQ:PARAA) last announced its earnings results on Wednesday, February 28th. The company reported 0.04 earnings per share for the quarter, missing analysts’ consensus estimates of 0.08 by -0.04. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The firm had revenue of 7.64 billion for the quarter, compared to the consensus estimate of 7.89 billion. During the same period in the prior year, the business earned $0.08 EPS. Research analysts anticipate that Paramount Global will post 1.37 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is currently -19.61%.

Institutional Investors Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently bought and sold shares of PARAA. Gamco Investors INC. ET AL grew its holdings in shares of Paramount Global by 7.5% during the third quarter. Gamco Investors INC. ET AL now owns 2,831,528 shares of the company’s stock valued at $44,710,000 after buying an additional 197,114 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Paramount Global by 29.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $557,000 after buying an additional 8,007 shares during the last quarter. Ninety One UK Ltd acquired a new position in shares of Paramount Global during the fourth quarter valued at about $3,421,000. Gladius Capital Management LP acquired a new position in shares of Paramount Global during the third quarter valued at about $328,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Paramount Global by 25.2% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 75,100 shares of the company’s stock worth $1,186,000 after purchasing an additional 15,100 shares during the last quarter. 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.