Paramount Global (NASDAQ:PARAA) Sets New 12-Month Low - What's Next?

Key Points

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Paramount Global (NASDAQ:PARAA - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $18.50 and last traded at $18.94, with a volume of 22404 shares trading hands. 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 Trading Up 2.7%

The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84. The company's 50-day moving average is $22.71 and its 200-day moving average is $22.66. The stock has a market capitalization of $13.22 billion, a price-to-earnings ratio of -653.45 and a beta of 1.27.

Paramount Global (NASDAQ:PARAA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.02. The firm had revenue of $6.85 billion for the quarter, compared to analysts' expectations of $6.88 billion. Paramount Global had a positive return on equity of 4.53% and a negative net margin of 0.05%. Research analysts anticipate that Paramount Global will post 2.25 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Paramount Global's dividend payout ratio is presently -2.43%.

Institutional Investors Weigh In On Paramount Global

A number of institutional investors and hedge funds have recently made changes to their positions in PARAA. PNC Financial Services Group Inc. lifted its holdings in Paramount Global by 34.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,366 shares of the company's stock worth $77,000 after buying an additional 865 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Paramount Global by 1,090.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,119 shares of the company's stock worth $25,000 after acquiring an additional 1,025 shares during the period. Mariner LLC raised its stake in shares of Paramount Global by 10.0% in the fourth quarter. Mariner LLC now owns 15,657 shares of the company's stock valued at $349,000 after acquiring an additional 1,425 shares in the last quarter. State of Wyoming grew its stake in Paramount Global by 97.9% during the 4th quarter. State of Wyoming now owns 4,788 shares of the company's stock worth $107,000 after purchasing an additional 2,369 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in Paramount Global by 6.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 38,500 shares of the company's stock worth $876,000 after purchasing an additional 2,500 shares during the period. 5.98% of the stock is owned by hedge funds and other institutional investors.

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.