Paramount Global (PARA) Set to Announce Quarterly Earnings on Monday

Paramount Global (NASDAQ:PARA) will release its earnings data after the market closes on Monday, April 29th. Analysts expect Paramount Global to post earnings of $0.31 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company posted $0.08 earnings per share. Paramount Global’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts expect Paramount Global to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Paramount Global Stock Performance

Shares of PARA stock opened at $12.44 on Monday. Paramount Global has a 1-year low of $10.12 and a 1-year high of $24.00. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of -12.20, a P/E/G ratio of 0.44 and a beta of 1.77. The stock’s fifty day simple moving average is $11.52 and its 200-day simple moving average is $12.87.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. Paramount Global’s payout ratio is -19.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Redburn Atlantic cut Paramount Global from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $17.00 to $11.00 in a research report on Thursday, January 11th. Moffett Nathanson raised Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective for the company in a research report on Tuesday, January 9th. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Finally, Benchmark reduced their price target on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.79.

Institutional Investors Weigh In On Paramount Global

Several large investors have recently modified their holdings of PARA. BlackRock Inc. grew its stake in shares of Paramount Global by 30.4% in the 1st quarter. BlackRock Inc. now owns 54,882,034 shares of the company’s stock valued at $1,224,418,000 after purchasing an additional 12,783,448 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Paramount Global in the 4th quarter valued at approximately $41,144,000. Neuberger Berman Group LLC grew its stake in shares of Paramount Global by 5,716.6% in the 4th quarter. Neuberger Berman Group LLC now owns 2,738,467 shares of the company’s stock valued at $40,502,000 after purchasing an additional 2,691,387 shares during the period. State Street Corp grew its stake in shares of Paramount Global by 7.3% in the 1st quarter. State Street Corp now owns 35,333,056 shares of the company’s stock valued at $796,459,000 after purchasing an additional 2,402,874 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Paramount Global in the 1st quarter valued at approximately $41,174,000. 73.00% of the stock is currently owned by institutional investors.

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.