Paramount Global (NASDAQ:PARAA) Sets New 52-Week Low - Should You Sell?

Key Points

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Paramount Global (NASDAQ:PARAA - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $18.50 and last traded at $18.94, with a volume of 22404 shares. The stock had previously closed at $23.29.

Analysts Set New Price Targets

Separately, Seaport Res Ptn downgraded shares of Paramount Global from a "hold" rating to a "strong sell" rating in a report on Monday, July 28th.

Paramount Global Stock Down 5.2%

The stock has a fifty day moving average price of $22.71 and a two-hundred day moving average price of $22.67. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.21 and a current ratio of 1.39. The firm has a market capitalization of $12.54 billion, a P/E ratio of -619.79 and a beta of 1.27.

Paramount Global (NASDAQ:PARAA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.02. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.51%. The company had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.88 billion. Research analysts forecast that Paramount Global will post 2.25 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.1%. Paramount Global's dividend payout ratio (DPR) is presently -666.67%.

Institutional Investors Weigh In On Paramount Global

Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Paramount Global by 1,090.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,119 shares of the company's stock worth $25,000 after purchasing an additional 1,025 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Paramount Global by 34.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,366 shares of the company's stock worth $77,000 after purchasing an additional 865 shares during the period. State of Wyoming boosted its holdings in shares of Paramount Global by 97.9% during the fourth quarter. State of Wyoming now owns 4,788 shares of the company's stock worth $107,000 after purchasing an additional 2,369 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Paramount Global during the second quarter worth approximately $213,000. Finally, Ethic Inc. boosted its holdings in shares of Paramount Global by 35.7% during the second quarter. Ethic Inc. now owns 12,581 shares of the company's stock worth $283,000 after purchasing an additional 3,311 shares during the period. 5.98% of the stock is owned by institutional investors.

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.