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

Paramount Global (NASDAQ:PARA) announced its quarterly earnings results on Wednesday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29), Zacks reports. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%.

Paramount Global Price Performance

Shares of NASDAQ:PARA traded down $0.28 during midday trading on Wednesday, hitting $11.22. 10,442,127 shares of the stock were exchanged, compared to its average volume of 9,015,326. The company has a 50 day moving average price of $10.77 and a 200-day moving average price of $10.73. The stock has a market cap of $7.48 billion, a P/E ratio of -1.36, a PEG ratio of 1.68 and a beta of 1.69. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Morgan Stanley boosted their price target 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. 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 research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.