By otakuyassine3@gmail.com 
Paramount Global (NASDAQ:PARA – Get Free Report) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 66,600,000 shares, an increase of 16.5% from the November 15th total of 57,160,000 shares. Currently, 11.3% of the company’s stock are short sold. Based on an average trading volume of 8,680,000 shares, the short-interest ratio is presently 7.7 days.
Paramount Global Price Performance
Shares of NASDAQ PARA traded down $0.19 during midday trading on Monday, reaching $10.98. 8,273,430 shares of the company traded hands, compared to its average volume of 14,586,088. Paramount Global has a 12 month low of $9.54 and a 12 month high of $16.30. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s 50-day simple moving average is $10.82 and its 200-day simple moving average is $10.84. The firm has a market cap of $7.32 billion, a PE ratio of -1.34, a PEG ratio of 1.35 and a beta of 1.71.
Paramount Global (NASDAQ:PARA – Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. As a group, equities analysts anticipate that Paramount Global will post 1.86 earnings per share for the current fiscal year.
Paramount Global Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.82%. Paramount Global’s dividend payout ratio is -2.43%.
Wall Street Analysts Forecast Growth
PARA has been the subject of several research analyst reports. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Guggenheim cut their price objective 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. Finally, Macquarie reissued an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.43.
Get Our Latest Research Report on PARA
Hedge Funds Weigh In On Paramount Global
Institutional investors have recently bought and sold shares of the business. Lingotto Investment Management LLP raised its stake in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after acquiring an additional 25,829,185 shares during the last quarter. State Street Corp lifted its holdings in Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Ariel Investments LLC boosted its position in Paramount Global by 16.5% in the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after buying an additional 1,992,576 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Paramount Global by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after buying an additional 1,606,779 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Paramount Global by 602.8% during the second quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock worth $18,530,000 after acquiring an additional 1,529,719 shares during the last quarter. Institutional investors own 73.00% 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.
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