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

Paramount Global (NASDAQ:PARA) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.05 per share on Tuesday, April 1st. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th.

Paramount Global has decreased its dividend by an average of 40.7% annually over the last three years. Paramount Global has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Paramount Global to earn $1.53 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 13.1%.

Paramount Global Stock Performance

Paramount Global stock opened at $11.67 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The firm has a 50 day simple moving average of $10.76 and a 200-day simple moving average of $10.72. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PARA. Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Macquarie reiterated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Six 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, Paramount Global presently has a consensus rating of “Hold” and a consensus price target of $12.58.

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.