Paramount Global (NASDAQ:PARA) Releases Earnings Results, Misses Expectations By $0.29 EPS

Paramount Global (NASDAQ:PARA) released its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29), Zacks reports. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion.

Paramount Global Trading Up 1.7 %

Shares of NASDAQ PARA traded up $0.20 during trading on Friday, hitting $11.44. 1,556,999 shares of the company were exchanged, compared to its average volume of 8,972,247. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a fifty day moving average price of $10.80 and a 200-day moving average price of $10.74. The firm has a market capitalization of $7.63 billion, a PE ratio of -1.39, a P/E/G ratio of 1.68 and a beta of 1.69.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.75%. Paramount Global’s payout ratio is currently -2.43%.

Wall Street Analysts Forecast Growth

PARA has been the topic of several recent analyst reports. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Macquarie reaffirmed an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average price target of $12.58.

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.