Paramount Global (NASDAQ:PARAA) Sets New 52-Week High - Time to Buy?

Shares of Paramount Global (NASDAQ:PARAA - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $22.74 and last traded at $22.66, with a volume of 20264 shares traded. The stock had previously closed at $22.72.

Paramount Global Stock Down 0.4 %

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 firm's 50 day moving average price is $22.62 and its two-hundred day moving average price is $22.53. The company has a market cap of $15.16 billion, a P/E ratio of -2.75 and a beta of 1.39.

Paramount Global (NASDAQ:PARAA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.27). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Equities research analysts anticipate that Paramount Global will post 2.25 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 0.88%. Paramount Global's payout ratio is currently -2.15%.

Institutional Trading of Paramount Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL lifted its stake in Paramount Global by 0.9% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,718,711 shares of the company's stock valued at $60,627,000 after acquiring an additional 25,444 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Paramount Global by 1.4% during the fourth quarter. Gabelli Funds LLC now owns 1,833,583 shares of the company's stock valued at $40,889,000 after purchasing an additional 24,592 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Paramount Global by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 275,630 shares of the company's stock worth $6,147,000 after purchasing an additional 28,615 shares during the last quarter. Poehling Capital Management INC. grew its position in Paramount Global by 8.3% in the 1st quarter. Poehling Capital Management INC. now owns 243,714 shares of the company's stock worth $5,544,000 after purchasing an additional 18,758 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Paramount Global by 41.2% in the 4th quarter. Millennium Management LLC now owns 230,283 shares of the company's stock valued at $5,135,000 after buying an additional 67,177 shares during the last quarter. Institutional investors own 5.98% of the company's stock.

About Paramount Global

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.