Paramount Global (NASDAQ:PARA) Declares Quarterly Dividend of $0.05

Paramount Global (NASDAQ:PARA) announced a quarterly dividend on Wednesday, April 10th, Zacks reports. Stockholders of record on Monday, June 17th will be paid a dividend of 0.05 per share on Monday, July 1st. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, June 17th.

Paramount Global has decreased its dividend by an average of 25.9% per year over the last three years. Paramount Global has a payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Paramount Global to earn $1.58 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 12.7%.

Paramount Global Trading Down 1.7 %

Shares of NASDAQ PARA opened at $10.17 on Friday. Paramount Global has a 1-year low of $10.12 and a 1-year high of $17.50. The business has a 50-day moving average of $11.96 and a 200-day moving average of $12.82. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Paramount Global will post 1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PARA. Needham & Company LLC cut Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Seaport Res Ptn cut Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Rosenblatt Securities restated a “neutral” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. dropped their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Ten investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.37.

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.