Paramount Global (NASDAQ:PARA) Shares Up 3.8% – What’s Next?

Paramount Global (NASDAQ:PARA)’s stock price rose 3.8% during trading on Thursday . The stock traded as high as $11.66 and last traded at $11.62. Approximately 4,886,859 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 14,620,234 shares. The stock had previously closed at $11.19.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim cut their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Macquarie reiterated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.43.

Paramount Global Trading Up 3.7 %

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company’s 50 day moving average price is $10.77 and its 200 day moving average price is $10.86. The firm has a market cap of $7.74 billion, a PE ratio of -1.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue was down 5.6% on a year-over-year basis. As a group, analysts forecast that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.72%. Paramount Global’s dividend payout ratio is presently -2.43%.

Institutional Trading of Paramount Global

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares during the period. Huntington National Bank increased its holdings in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the period. Atlas Capital Advisors LLC purchased a new position in Paramount Global in the 2nd quarter valued at $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global during the 2nd quarter worth $43,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Paramount Global in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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.