Paramount Global (NASDAQ:PARA) Reaches New 12-Month Low at $10.12

Paramount Global (NASDAQ:PARA)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $10.12 and last traded at $10.24, with a volume of 20615544 shares trading hands. The stock had previously closed at $10.97.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of recent analyst reports. Redburn Atlantic lowered shares of Paramount Global from a “neutral” rating to a “sell” rating and dropped their price target for the company from $17.00 to $11.00 in a research report on Thursday, January 11th. StockNews.com lowered shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research report on Tuesday, January 9th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price target on shares of Paramount Global in a research report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Paramount Global in a research report on Thursday, February 29th. Nine investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Paramount Global has a consensus rating of “Hold” and an average price target of $13.79.

Paramount Global Price Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The company’s 50 day moving average price is $11.96 and its 200 day moving average price is $12.95. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -10.04, a P/E/G ratio of 0.41 and a beta of 1.77.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The company had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts predict that Paramount Global will post 1.17 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.90%. Paramount Global’s dividend payout ratio is presently -19.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PARA. VisionPoint Advisory Group LLC acquired a new position in Paramount Global during the 3rd quarter worth about $25,000. Anchor Investment Management LLC acquired a new position in Paramount Global during the 4th quarter worth about $30,000. Archer Investment Corp acquired a new position in Paramount Global during the 4th quarter worth about $30,000. Cornerstone Planning Group LLC acquired a new position in Paramount Global during the 2nd quarter worth about $30,000. Finally, ICA Group Wealth Management LLC bought a new stake in Paramount Global during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 73.00% 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.