Paramount Global (NASDAQ:PARAA) Sets New 52-Week Low - Time to Sell?

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.

Paramount Global (NASDAQ:PARAA - Get Free Report) shares 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. The stock had previously closed at $18.60.

Wall Street Analyst Weigh In

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

Paramount Global Stock Performance

The stock's 50-day moving average is $22.20 and its 200-day moving average is $22.49. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of -563.48 and a beta of 1.27. The company has a current ratio of 1.39, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.88 billion. On average, analysts expect that Paramount Global will post 2.25 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.2%. Paramount Global's dividend payout ratio (DPR) is -666.67%.

Institutional Trading of Paramount Global

Several large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew 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 buying an additional 1,025 shares in the last quarter. PNC Financial Services Group Inc. grew its position 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 buying an additional 865 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Paramount Global during the second quarter worth approximately $101,000. State of Wyoming grew its position 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 buying an additional 2,369 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Paramount Global during the second quarter worth $213,000. Institutional investors and hedge funds 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.