During the last session, Paramount Global (NASDAQ:PARA)’s traded shares were 28.27 million, with the beta value of the company hitting 1.70. At the end of the trading day, the stock’s price was $14.08, reflecting an intraday loss of -3.83% or -$0.56. The 52-week high for the PARA share is $34.50, that puts it down -145.03 from that peak though still a striking -1.85% loss since the share price plummeted to a 52-week low of $14.34. The company’s market capitalization is $9.59B, and the average intraday trading volume over the past 10 days was 18.08 million shares, and the average trade volume was 13.18 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 3.20. PARA has a Sell rating from 13 analyst(s) out of 29 analysts who have looked at this stock. 8 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 7 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.04.
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Paramount Global (NASDAQ:PARA) trade information
Paramount Global (PARA) registered a -3.83% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.83% in intraday trading to $14.08 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -10.38%, and it has moved by -34.97% in 30 days. Based on these gigs, the overall price performance for the year is -55.72%. The short interest in Paramount Global (NASDAQ:PARA) is 91.55 million shares and it means that shorts have 9.85 day(s) to cover.
The consensus price target of analysts on Wall Street is $18.63, which implies an increase of 24.42% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.00 and $32.00 respectively. As a result, PARA is trading at a discount of -127.27% off the target high and 21.88% 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 -26.44% during the last six months, with a year-to-date growth rate less than the industry average at -60.23% against 0.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -93.80% this quarter and then drop -23.10% in the quarter after that. In the rating firms’ projections, revenue will increase 1.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $7.42 billion as predicted by 20 analyst(s). Meanwhile, a consensus of 18 analyst(s) estimates revenue growth to $7.4 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $7.78 billion and $6.92 billion respectively. In this case, analysts expect current quarter sales to shrink by -4.60% and then jump by 6.90% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -27.30%. While earnings are projected to return -84.50% in 2023, the next five years will return 3.97% per annum.
Paramount Global is due to release its next quarterly earnings between August 02 and August 07. 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 0.20, with the dividend yield indicating at 1.42 percent, continuing the trend of increasing dividends in recent years.
Paramount Global (NASDAQ:PARA)’s Major holders
Paramount Global insiders own 5.80% of total outstanding shares while institutional holders control 84.19%, with the float percentage being 89.38%. Berkshire Hathaway, Inc is the largest shareholder of the company, while 1,109 institutions own stock in it. As of Mar 30, 2023, the company held over 93.73 million shares (or 15.34% of all shares), a total value of $2.09 billion in shares.
The next largest institutional holding, with 58.74 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 9.62% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.31 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Paramount Global (PARA) shares are Growth Fund Of America Inc and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2023 indicates that Growth Fund Of America Inc owns about 16.53 million shares. This amounts to just over 2.71 percent of the company’s overall shares, with a $368.68 million market value. The same data shows that the other fund manager holds slightly less at 15.09 million, or about 2.47% of the stock, which is worth about $254.72 million.