Paramount Global (PARA) To Go Ex-Dividend on March 17th

Paramount Global (NASDAQ:PARA) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.05 per share on Tuesday, April 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th.

Paramount Global has decreased its dividend by an average of 40.7% per year over the last three years. Paramount Global has a dividend payout ratio of 11.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Paramount Global to earn $1.53 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 13.1%.

Paramount Global Trading Up 0.4 %

Shares of NASDAQ:PARA opened at $11.69 on Friday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The stock has a market cap of $7.80 billion, a PE ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. The business has a 50 day moving average of $11.03 and a 200-day moving average of $10.79. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, equities research analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley boosted their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Guggenheim reiterated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and a consensus price target of $12.10.

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.