Paramount Global (NASDAQ:PARAA) Shares Down 3.6% - Should You 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) shares traded down 3.6% during mid-day trading on Monday . The company traded as low as $19.16 and last traded at $18.91. 33,631 shares traded hands during mid-day 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 lowered Paramount Global from a "hold" rating to a "strong sell" rating in a report on Monday, July 28th.

Paramount Global Price Performance

The company has a current ratio of 1.39, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average of $22.31 and a 200 day moving average of $22.53. The firm has a market capitalization of $11.40 billion, a PE ratio of -563.48 and a beta of 1.27.

Paramount Global (NASDAQ:PARAA - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.46 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. As a group, research analysts anticipate that Paramount Global will post 2.25 EPS for the current fiscal year.

Paramount Global Dividend Announcement

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

Institutional Investors Weigh In On Paramount Global

Several large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew 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 valued at $77,000 after buying an additional 865 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in 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 valued at $25,000 after acquiring an additional 1,025 shares in the last quarter. Mariner LLC increased its holdings in Paramount Global by 10.0% during the 4th quarter. Mariner LLC now owns 15,657 shares of the company's stock worth $349,000 after acquiring an additional 1,425 shares during the period. State of Wyoming lifted its stake in Paramount Global by 97.9% in 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 grew its position in shares of Paramount Global by 6.9% during the 1st quarter. Central Pacific Bank Trust Division now owns 38,500 shares of the company's stock valued at $876,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 5.98% of the company's stock.

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.