Paramount Global (NASDAQ:PARA) Hits New 1-Year Low at $9.97

Paramount Global (NASDAQ:PARA - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.97 and last traded at $10.04, with a volume of 1642030 shares changing hands. The stock had previously closed at $10.17.

Analysts Set New Price Targets

A number of research firms have issued reports on PARA. JPMorgan Chase & Co. reduced their target price on shares of Paramount Global from $13.00 to $12.00 and set an "underweight" rating for the company in a research note on Thursday, April 4th. Argus lowered shares of Paramount Global from a "hold" rating to a "sell" rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Paramount Global from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, February 28th. Seaport Res Ptn lowered shares of Paramount Global from a "buy" rating to a "neutral" rating in a research note on Thursday, May 2nd. Finally, Wolfe Research raised shares of Paramount Global from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 4th. Ten analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $13.37.

Paramount Global Trading Down 2.9 %

The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -66.46, a price-to-earnings-growth ratio of 0.31 and a beta of 1.78. The firm's 50 day moving average is $11.96 and its 200 day moving average is $12.81. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.34 by $0.28. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. Equities analysts forecast that Paramount Global will post 1.32 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 2.03%. Paramount Global's dividend payout ratio (DPR) is presently -133.32%.

Institutional Investors Weigh In On Paramount Global

Several hedge funds have recently made changes to their positions in PARA. Van ECK Associates Corp lifted its position in Paramount Global by 2.1% in the 3rd quarter. Van ECK Associates Corp now owns 49,536 shares of the company's stock worth $639,000 after buying an additional 996 shares in the last quarter. Pathstone Family Office LLC lifted its position in Paramount Global by 16.0% in the 3rd quarter. Pathstone Family Office LLC now owns 41,646 shares of the company's stock worth $539,000 after buying an additional 5,757 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Paramount Global by 9.7% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 96,958 shares of the company's stock worth $1,251,000 after buying an additional 8,534 shares in the last quarter. Blair William & Co. IL lifted its position in Paramount Global by 21.8% in the 3rd quarter. Blair William & Co. IL now owns 65,736 shares of the company's stock worth $848,000 after buying an additional 11,771 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Paramount Global by 36.0% in the 3rd quarter. Deutsche Bank AG now owns 1,639,751 shares of the company's stock worth $21,153,000 after buying an additional 433,696 shares in the last quarter. Hedge funds and other institutional investors own 73.00% 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.