Paramount Global (NASDAQ:PARA) to Issue Quarterly Dividend of $0.05

Paramount Global (NASDAQ:PARA) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Shareholders 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% annually over the last three years. Paramount Global has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 1.6 %

Shares of Paramount Global stock opened at $11.67 on Tuesday. The firm has a 50-day simple moving average of $10.76 and a two-hundred day simple moving average of $10.72. The company has a market cap of $7.78 billion, a P/E ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week 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.

Analyst Ratings Changes

A number of brokerages have weighed in on PARA. Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Paramount Global presently 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.