Paramount Global (NASDAQ:PARAA) Downgraded by Seaport Res Ptn

Seaport Res Ptn downgraded shares of Paramount Global (NASDAQ:PARAA) from a buy rating to a neutral rating in a report published on Thursday morning, Zacks.com reports. Seaport Res Ptn also issued estimates for Paramount Global’s Q2 2024 earnings at $0.18 EPS and FY2024 earnings at $1.25 EPS.

Paramount Global Price Performance

PARAA stock opened at 22.42 on Thursday. The business’s fifty day moving average price is 21.87 and its 200 day moving average price is 19.85. Paramount Global has a 12-month low of 13.40 and a 12-month high of 26.34. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $14.63 billion, a PE ratio of -149.46 and a beta of 1.66.

Paramount Global (NASDAQ:PARAA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported 0.04 earnings per share for the quarter, missing analysts’ consensus estimates of 0.08 by -0.04. The business had revenue of 7.64 billion during the quarter, compared to analyst estimates of 7.89 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. During the same quarter last year, the firm posted $0.08 EPS. On average, sell-side analysts anticipate that Paramount Global will post 1.25 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

Institutional Investors Weigh In On Paramount Global

Several institutional investors have recently added to or reduced their stakes in PARAA. GAMMA Investing LLC boosted its position in shares of Paramount Global by 708.2% in the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $28,000 after purchasing an additional 1,126 shares during the period. Raymond James & Associates acquired a new stake in Paramount Global during the 4th quarter worth $205,000. Allspring Global Investments Holdings LLC boosted its stake in 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 period. SageView Advisory Group LLC purchased a new position in Paramount Global during the 4th quarter worth $284,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in Paramount Global by 29.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $557,000 after purchasing an additional 8,007 shares during the period. Hedge funds and other institutional investors own 5.98% of the company’s stock.

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.