Paramount Global (NASDAQ:PARA) Sees Unusually-High Trading Volume

Paramount Global (NASDAQ:PARA) shares saw unusually-high trading volume on Wednesday . Approximately 15,264,027 shares changed hands during trading, a decline of 19% from the previous session’s volume of 18,799,227 shares.The stock last traded at $11.81 and had previously closed at $10.72.

Wall Street Analysts Forecast Growth

PARA has been the topic of several analyst reports. Raymond James reissued a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Tuesday, April 30th. JPMorgan Chase & Co. reduced their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Finally, Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Ten research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average price target of $13.29.

Paramount Global Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The stock has a market capitalization of $7.64 billion, a P/E ratio of -76.39, a price-to-earnings-growth ratio of 0.38 and a beta of 1.78. The firm has a 50-day moving average price of $11.63 and a 200 day moving average price of $12.32.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.34 by $0.28. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. On average, analysts expect that Paramount Global will post 1.31 EPS for the current year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.75%. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

Hedge Funds Weigh In On Paramount Global

Several institutional investors and hedge funds have recently bought and sold shares of PARA. VisionPoint Advisory Group LLC bought a new position in Paramount Global during the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC purchased a new position in Paramount Global during the fourth quarter valued at $30,000. Archer Investment Corp purchased a new position in Paramount Global during the fourth quarter valued at $30,000. Friedenthal Financial purchased a new position in Paramount Global during the fourth quarter valued at $39,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Paramount Global in the 4th quarter worth $44,000. 73.00% of the stock is currently owned by 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.