Paramount Global (PARA) To Go Ex-Dividend on March 17th

Paramount Global (NASDAQ:PARA) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.05 per share on Tuesday, April 1st. This represents a $0.20 annualized dividend 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 payout ratio of 11.9% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NASDAQ PARA opened at $11.69 on Friday. The firm has a market capitalization of $7.80 billion, a P/E ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. 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 business’s 50-day simple moving average is $11.03 and its 200-day simple moving average is $10.79.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Equities analysts predict that Paramount Global will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

PARA has been the topic of several recent research reports. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Finally, Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.10.

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.