During the recent session, Paramount Global (NASDAQ:PARA)’s traded shares were 7.97 million, with the beta value of the company hitting 1.61. At the last check today, the stock’s price was $24.97, reflecting an intraday loss of -0.28% or -$0.07. The 52-week high for the PARA share is $42.17, that puts it down -68.88 from that peak though still a striking 7.29% gain since the share price plummeted to a 52-week low of $23.15. The company’s market capitalization is $17.00B, and the average intraday trading volume over the past 10 days was 8.6 million shares, and the average trade volume was 9.39 million shares over the past three months.
Paramount Global (PARA) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.70. PARA has a Sell rating from 8 analyst(s) out of 28 analysts who have looked at this stock. 12 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 8 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.
Paramount Global (NASDAQ:PARA) trade information
Paramount Global (PARA) registered a -0.28% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.28% in intraday trading to $24.97 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 2.08%, and it has moved by -0.60% in 30 days. Based on these gigs, the overall price performance for the year is -34.91%. The short interest in Paramount Global (NASDAQ:PARA) is 53.12 million shares and it means that shorts have 6.89 day(s) to cover.
The consensus price target of analysts on Wall Street is $31.58, which implies an increase of 20.93% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $18.00 and $60.00 respectively. As a result, PARA is trading at a discount of -140.29% off the target high and 27.91% off the low.
Paramount Global (PARA) estimates and forecasts
Statistics show that Paramount Global has underperformed its competitors in share price, compared to the industry in which it operates. Paramount Global (PARA) shares have gone down -25.70% during the last six months, with a year-to-date growth rate less than the industry average at -25.00% against 20.20. In the rating firms’ projections, revenue will increase 7.20% compared to the previous financial year.
Revenue for the current quarter is expected to be $7.57 billion as predicted by 22 analyst(s). Meanwhile, a consensus of 19 analyst(s) estimates revenue growth to $7.24 billion by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $6.56 billion and $6.61 billion respectively. In this case, analysts expect current quarter sales to grow by 15.30% and then jump by 9.50% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 13.80%. While earnings are projected to return 77.50% in 2022, the next five years will return -6.43% per annum.
Paramount Global is due to release its next quarterly earnings on August 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Paramount Global is 0.96, with the dividend yield indicating at 3.83 percent, continuing the trend of increasing dividends in recent years.
Paramount Global (NASDAQ:PARA)’s Major holders
Paramount Global insiders own 5.38% of total outstanding shares while institutional holders control 79.75%, with the float percentage being 84.28%. Berkshire Hathaway, Inc is the largest shareholder of the company, while 1,216 institutions own stock in it. As of Mar 30, 2022, the company held over 68.95 million shares (or 11.33% of all shares), a total value of $1.72 billion in shares.
The next largest institutional holding, with 66.66 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.96% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $1.66 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Paramount Global (PARA) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 16.96 million shares. This amounts to just over 2.79 percent of the company’s overall shares, with a $423.3 million market value. The same data shows that the other fund manager holds slightly less at 13.28 million, or about 2.18% of the stock, which is worth about $331.37 million.