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

Paramount Global (NASDAQ:PARA) declared a quarterly dividend on Wednesday, September 25th,Zacks Dividends reports. Investors of record on Monday, December 16th will be paid a dividend of 0.05 per share on Thursday, January 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Monday, December 16th.

Paramount Global has decreased its dividend payment by an average of 25.9% annually over the last three years. Paramount Global has a dividend payout ratio of 12.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Paramount Global to earn $1.83 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 10.9%.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.22 on Friday. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of -1.36, a PEG ratio of 1.35 and a beta of 1.71. The company has a 50-day simple moving average of $10.81 and a two-hundred day simple moving average of $10.86. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $16.83.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. On average, equities analysts forecast that Paramount Global will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

PARA has been the subject of several recent analyst reports. Macquarie reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim cut their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.43.

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.