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Paramount Global (NASDAQ: PARA) Up 16.71% YTD: Could Trouble Be Ahead?

Paramount Global (NASDAQ:PARA)’s traded shares stood at 28.2 million during the last session, with the company’s beta value hitting 1.66. At the close of trading, the stock’s price was $19.70, to imply a decrease of -1.35% or -$0.27 in intraday trading. The PARA share’s 52-week high remains $39.21, putting it -99.04% down since that peak but still an impressive 22.39% since price per share fell to its 52-week low of $15.29. The company has a valuation of $13.57B, with an average of 10.12 million shares in intraday trading volume over the past 10 days and average of 11.29 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Paramount Global (PARA), translating to a mean rating of 3.20. Of 30 analyst(s) looking at the stock, 12 analyst(s) give PARA a Sell rating. 1 of those analysts rate the stock as Overweight while 10 advise Hold as 6 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.24.

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Paramount Global (NASDAQ:PARA) trade information

After registering a -1.35% downside in the last session, Paramount Global (PARA) has traded red over the past five days. The stock hit a weekly high of 20.27 this Friday, 03/17/23, dropping -1.35% in its intraday price action. The 5-day price performance for the stock is -0.96%, and -19.72% over 30 days. With these gigs, the year-to-date price performance is 16.71%. Short interest in Paramount Global (NASDAQ:PARA) saw shorts transact 88.45 million shares and set a 7.84 days time to cover.

Analysts on Wall Street suggest a consensus price target of $20.86, implying an increase of 5.56% to the stock’s current value. The extremes give us $11.00 and $32.00 for target low and target high price respectively. As such, PARA has been trading -62.44% off suggested target high and 44.16% from its likely low.

Paramount Global (PARA) estimates and forecasts

Looking at statistics comparing Paramount Global share performance against respective industry, we note that the company has underperformed competitors. Paramount Global (PARA) shares are -14.53% down over the last 6 months, with its year-to-date growth rate lower than industry average at -61.99% against -10.20%. Revenue is forecast to shrink -7.70% this quarter before falling -38.30% for the next one. The rating firms project that company’s revenue will grow 5.70% compared to the previous financial year.

Revenue forecast for the current quarter as set by 21 analysts is $8.16 billion. Meanwhile, for the quarter ending Mar 2023, a total of 12 analyst(s) estimate revenue growth to $7.49 billion.Earnings reports from the last fiscal year show that sales brought in $8 billion and $7.33 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 2.00% before jumping 2.20% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -27.30% for the past 5-year period. While 2023 is set for a -84.50% return in earnings, projections for the next 5 years are at 9.40% annually.

PARA Dividends

Paramount Global has its next earnings report out between May 01 and May 05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Paramount Global has a forward dividend ratio of 0.96, with the share yield ticking at 4.87% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Paramount Global (NASDAQ:PARA)’s Major holders

Paramount Global insiders hold 5.41% of total outstanding shares, with institutional holders owning 82.43% of the shares at 87.14% float percentage. In total, 82.43% institutions holds shares in the company, led by Berkshire Hathaway, Inc. As of Sep 29, 2022, the company held over 91.22 million shares (or 14.99% of shares), all amounting to roughly $1.74 billion.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 57.51 million shares, or about 9.45% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $1.1 billion.

We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Paramount Global (PARA) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 14.85 million shares. This is just over 2.44% of the total shares, with a market valuation of $282.8 million. Data from the same date shows that the other fund manager holds a little less at 11.45 million, or 1.88% of the shares, all valued at about 218.03 million.

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