National Bank of Canada FI Has $376,000 Stake in Paramount Global (NASDAQ:PARA)

National Bank of Canada FI cut its holdings in shares of Paramount Global (NASDAQ:PARA) by 36.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,410 shares of the company’s stock after selling 20,539 shares during the quarter. National Bank of Canada FI’s holdings in Paramount Global were worth $376,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. State Street Corp boosted its position in Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the last quarter. Lingotto Investment Management LLP boosted its holdings in shares of Paramount Global by 628.8% in the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares during the last quarter. Ariel Investments LLC grew its stake in shares of Paramount Global by 16.5% in the second 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after buying an additional 1,030,592 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Paramount Global by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock worth $38,698,000 after acquiring an additional 225,191 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.22 on Monday. The firm has a 50-day moving average price of $10.81 and a two-hundred day moving average price of $10.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $16.83. The company has a market capitalization of $7.48 billion, a P/E ratio of -1.36, a P/E/G ratio of 1.35 and a beta of 1.71. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts anticipate that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is currently -2.43%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PARA. Macquarie restated an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim dropped their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Seven analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.43.

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.