There’s Something Awry at Paramount Global (NASDAQ:PARA) Since Share Price Gets Ahead of Fundamentals

Paramount Global (NASDAQ:PARA) shares traded 5.61% higher at $13.93 on Wall Street last session.

PARA stock price is now 12.89% away from the 50-day moving average and -16.67% away from the 200-day moving average. The market capitalization of the company currently stands at $9.07B.

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With the price target maintained at $9, BofA Securities recently Downgraded its rating from Buy to Underperform for Paramount Global (NASDAQ: PARA).

In other news, REDSTONE SHARI, Director bought 165,000 shares of the company’s stock on May 16. The stock was bought for $2,485,560 at an average price of $15.06. Upon completion of the transaction, the Director now directly owns 577,064 shares in the company, valued at $8.04 million. Insiders disposed of 161,897 shares of company stock worth roughly $2.26 million over the past 1 year. A total of 11.49% of the company’s stock is owned by insiders.

Paramount Global (NASDAQ: PARA) opened at $13.43 on Monday. During the past 12 months, Paramount Global has had a low of $10.51 and a high of $25.93. As of last week, the company has a debt-to-equity ratio of 0.79, a current ratio of 1.26, and a quick ratio of 1.09. The fifty day moving average price for PARA is $12.34 and a two-hundred day moving average price translates $16.72 for the stock.

The latest earnings results from Paramount Global (NASDAQ: PARA) was released for Sep, 2023. According to the Entertainment Company, earnings per share came in at $0.3, beating analysts’ expectations of $0.1 by 0.2. This compares to $0.12 EPS in the same period last year. The net profit margin was -3.84% and return on equity was -6.58% for PARA. The company reported revenue of $7.13 billion for the quarter, compared to $6.92 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.14 percent. For the current quarter, analysts expect PARA to generate $7.87B in revenue.

Paramount Global(PARA) Company Profile

Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports. The company’s Direct-to-Consumer segment provides portfolio of domestic and international pay and free streaming services, including Paramount+, Pluto TV, Showtime Networks’ subscription streaming service, BET+, and Noggin. The company’s Filmed Entertainment segment produces and acquires films, series, and short-form content for release; media licensing around the world, including in theaters, on streaming services, on television, digital home entertainment, and DVDs; and operates portfolio of Paramount Pictures, Paramount Players, Paramount Animation, Nickelodeon Studio, Awesomeness, and Miramax. The company was formerly known as ViacomCBS Inc. and changed its name to Paramount Global in February 2022. The company was founded in 1914 and is headquartered in New York, New York. Paramount Global operates as a subsidiary of National Amusements, Inc.

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