Paramount Global (PARA) Set to Announce Quarterly Earnings on Friday

Paramount Global (NASDAQ:PARAGet Free Report) is set to post its quarterly earnings results before the market opens on Friday, November 8th. Analysts expect Paramount Global to post earnings of $0.18 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Paramount Global (NASDAQ:PARAGet Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. On average, analysts expect Paramount Global to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Paramount Global Stock Up 2.6 %

NASDAQ:PARA opened at $11.38 on Thursday. The firm has a market cap of $7.59 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.63 and a beta of 1.74. The company has a 50-day moving average of $10.48 and a 200 day moving average of $11.12. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is -2.57%.

Wall Street Analyst Weigh In

Several analysts have commented on PARA shares. Guggenheim decreased their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. StockNews.com lowered shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Finally, Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $11.00 in a report on Friday, August 9th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.57.

Check Out Our Latest Research Report on Paramount Global

Paramount Global Company Profile

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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.

Further Reading

Earnings History for Paramount Global (NASDAQ:PARA)

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