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Paramount Global (NASDAQ:PARAA) Reaches New 12-Month Low - Should You Sell?

Paramount Global logo with Consumer Discretionary background

Key Points

  • Paramount Global's share price has hit a new 52-week low of $17.66, with the latest trade at $17.87, reflecting significant declines in market confidence.
  • Analysts at Seaport Res Ptn downgraded the stock from a "hold" rating to a "strong sell," indicating growing concerns about the company's performance.
  • The company reported a positive EPS of $0.46 for the last quarter, which beat analysts' expectations, although revenues were slightly below estimates at $6.85 billion.
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Paramount Global (NASDAQ:PARAA - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $17.66 and last traded at $17.87, with a volume of 44623 shares trading hands. The stock had previously closed at $18.60.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Research Report on PARAA

Paramount Global Trading Down 3.8%

The company has a market capitalization of $11.59 billion, a PE ratio of -572.64 and a beta of 1.27. The company's fifty day moving average is $22.31 and its 200-day moving average is $22.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21.

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

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global's dividend payout ratio is currently -666.67%.

Institutional Trading of Paramount Global

Several large investors have recently bought and sold shares of PARAA. Northwestern Mutual Wealth Management Co. raised its stake in shares of Paramount Global by 1,090.4% in the first 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 last quarter. PNC Financial Services Group Inc. raised its position 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 during the last quarter. State of Wyoming lifted 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 valued at $107,000 after acquiring an additional 2,369 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Paramount Global in the 2nd quarter valued at $213,000. Finally, Ethic Inc. increased its stake in shares of Paramount Global by 35.7% in the second quarter. Ethic Inc. now owns 12,581 shares of the company's stock worth $283,000 after acquiring an additional 3,311 shares during the period. Hedge funds and other institutional investors own 5.98% of the company's stock.

About Paramount Global

(Get Free Report)

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.

See Also

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