National Bank of Canada FI Sells 20,539 Shares of Paramount Global (NASDAQ:PARA)

National Bank of Canada FI reduced its holdings in shares of Paramount Global (NASDAQ:PARA) by 36.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 35,410 shares of the company’s stock after selling 20,539 shares during the period. National Bank of Canada FI’s holdings in Paramount Global were worth $376,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Blue Trust Inc. grew its holdings in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares during the last quarter. Huntington National Bank grew its stake in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Paramount Global during the second quarter worth $35,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paramount Global in the 2nd quarter valued at $43,000. Finally, Kennebec Savings Bank bought a new stake in Paramount Global during the 3rd quarter worth $47,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Paramount Global Stock Performance

NASDAQ:PARA opened at $11.22 on Monday. The firm 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. Paramount Global has a twelve month low of $9.54 and a twelve month high of $16.83. The company has a fifty day moving average of $10.81 and a 200-day moving average of $10.85. 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 announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. As a group, sell-side analysts anticipate that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. 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 1.78%. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Paramount Global 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.