Paramount Global (NASDAQ:PARA) Posts Earnings Results, Beats Expectations By $0.28 EPS

Paramount Global (NASDAQ:PARA) posted its earnings results on Monday. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28, Briefing.com reports. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. During the same period in the previous year, the firm earned $0.09 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year.

Paramount Global Stock Up 7.6 %

Shares of PARA stock opened at $12.26 on Thursday. The business has a fifty day simple moving average of $11.47 and a 200 day simple moving average of $12.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.17 and a current ratio of 1.29. Paramount Global has a twelve month low of $10.12 and a twelve month high of $23.45.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.63%. Paramount Global’s payout ratio is -133.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Paramount Global in a research report on Tuesday, April 9th. Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research note on Tuesday, January 9th. Wells Fargo & Company cut their price objective on shares of Paramount Global from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Tuesday. Nine equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.58.

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.