Paramount Global (NASDAQ:PARAA) Stock Price Down 3.6% - Time to Sell?

Key Points

• Paramount Global's stock price decreased by 3.6% on Monday, closing at $18.91, which is significantly lower than the previous close of $19.61.
• Seaport Res Ptn has downgraded the company's rating from "hold" to a "strong sell," indicating negative sentiment among analysts.
• Despite reporting an earnings per share (EPS) of $0.46, which exceeded expectations, Paramount Global's revenue fell short of estimates at $6.85 billion.

Paramount Global (NASDAQ:PARAA - Get Free Report) fell 3.6% on Monday . The stock traded as low as $19.16 and last traded at $18.91. 33,631 shares changed hands during trading, an increase of 12% from the average session volume of 29,923 shares. The stock had previously closed at $19.61.

Analyst Ratings Changes

Separately, Seaport Res Ptn cut 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 firm has a market cap of $12.54 billion, a PE ratio of -619.79 and a beta of 1.27. The company has a 50-day simple moving average of $22.71 and a 200-day simple moving average of $22.67. 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 released its quarterly earnings data on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping the consensus estimate 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%. Analysts expect that Paramount Global will post 2.25 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were paid 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 1.1%. Paramount Global's payout ratio is -666.67%.

Hedge Funds Weigh In On Paramount Global

A number of large investors have recently bought and sold shares of PARAA. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 valued at $25,000 after acquiring an additional 1,025 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of 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 acquiring an additional 865 shares in the last quarter. State of Wyoming raised its position in shares of 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 during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Paramount Global in the 2nd quarter valued at about $213,000. Finally, Ethic Inc. raised its holdings in Paramount Global by 35.7% in the 2nd quarter. Ethic Inc. now owns 12,581 shares of the company's stock valued at $283,000 after acquiring an additional 3,311 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.