Paramount Global (NASDAQ:PARAA) Stock Price Up 3.7%

Paramount Global (NASDAQ:PARAA)’s share price traded up 3.7% on Tuesday . The stock traded as high as 18.61 and last traded at 18.58. 60,553 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 74,939 shares. The stock had previously closed at 17.92.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn downgraded shares of Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd.

Paramount Global Price Performance

The company’s 50 day simple moving average is 20.50 and its 200 day simple moving average is 20.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19.

Paramount Global (NASDAQ:PARAA) last posted its quarterly earnings results on Monday, April 29th. The company reported 0.62 EPS for the quarter, topping the consensus estimate of 0.25 by 0.37. The business had revenue of 7.69 billion during the quarter, compared to the consensus estimate of 7.85 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. On average, sell-side analysts anticipate that Paramount Global will post 1.25 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.00%. Paramount Global’s dividend payout ratio (DPR) is -133.32%.

Institutional Investors Weigh In On Paramount Global

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Paramount Global by 708.2% during the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $28,000 after purchasing an additional 1,126 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Paramount Global by 416.3% during the 1st quarter. Russell Investments Group Ltd. now owns 2,592 shares of the company’s stock worth $57,000 after purchasing an additional 2,090 shares during the last quarter. Raymond James & Associates purchased a new stake in shares of Paramount Global during the 4th quarter worth $205,000. Allspring Global Investments Holdings LLC lifted its position in shares of Paramount Global by 5.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company’s stock worth $239,000 after purchasing an additional 537 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in shares of Paramount Global during the 4th quarter worth $284,000. 5.98% of the stock is owned by hedge funds and other 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.