Paramount Global (NASDAQ:PARA) Posts Quarterly 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 (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%. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion.

Paramount Global Stock Performance

Shares of PARA opened at $11.15 on Thursday. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a market cap of $7.44 billion, a PE ratio of -1.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The firm has a 50-day moving average of $10.78 and a 200-day moving average of $10.73. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, March 17th. Paramount Global’s payout ratio is -2.43%.

Analyst Upgrades and Downgrades

PARA has been the subject of several recent research reports. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday. Macquarie reissued an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and a consensus target price of $12.58.

About Paramount Global

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.