Paramount Global (NASDAQ:PARA) Announces Earnings Results, Beats Estimates By $0.28 EPS

Paramount Global (NASDAQ:PARA) announced its quarterly earnings data on Monday. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.34 by $0.28, Briefing.com reports. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.73 billion. During the same quarter in the prior year, the company posted $0.09 EPS. Paramount Global’s quarterly revenue was up 5.8% on a year-over-year basis.

Paramount Global Stock Up 2.9 %

NASDAQ:PARA opened at $12.25 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Paramount Global has a twelve month low of $10.12 and a twelve month high of $24.00. The company has a market cap of $7.99 billion, a PE ratio of -12.01, a P/E/G ratio of 0.42 and a beta of 1.77. The company’s 50 day moving average is $11.48 and its two-hundred day moving average is $12.88.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PARA shares. JPMorgan Chase & Co. lowered their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a report on Tuesday, January 9th. Raymond James restated a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Benchmark reduced their target price on shares of Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.79.

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.