In the latest trading session, 4.01 million Paramount Global (NASDAQ:PARA) shares changed hands as the company’s beta touched 1.85. With the company’s most recent per share price at $13.77 changed hands at -$0.16 or -1.16% at last look, the market valuation stands at $8.97B. PARA’s current price is a discount, trading about -88.31% off its 52-week high of $25.93. The share price had its 52-week low at $10.51, which suggests the last value was 23.67% up since then. When we look at Paramount Global’s average trading volume, we note the 10-day average is 14.35 million shares, with the 3-month average coming to 12.47 million.
Paramount Global (NASDAQ:PARA) trade information
Instantly PARA was in red as seen in intraday trades today. With action 9.97%, the performance over the past five days has been green. The drop to weekly highs of 14.26 on Monday, 11/20/23 subtracted -1.16% to the stock’s daily price. The company’s shares are showing year-to-date downside of -18.43%, with the 5-day performance at 9.97% in the green. However, in the 30-day time frame, Paramount Global (NASDAQ:PARA) is 23.04% up. Looking at the short shares, we see there were 85.18 million shares sold at short interest cover period of 7.71 days.
Paramount Global (PARA) estimates and forecasts
Data shows that the Paramount Global share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -7.72% over the past 6 months, a -69.59% in annual growth rate that is considerably lower than the industry average of -28.70%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Paramount Global will fall -50.00%, while the growth in revenue is estimated to hit 344.40% for the next quarter. Year-over-year growth is forecast to reach -0.80% down from the last financial year.
Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of $7.87 billion. 9 analysts are of the opinion that Paramount Global’s revenue for the quarter ending Mar 2024 will be $7.92 billion. The company’s revenue for the corresponding quarters a year ago was $8.13 billion and $7.26 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -3.10%. The estimates for the next quarter sales put growth at 9.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 12.83%. The 2023 estimates are for Paramount Global earnings to decrease by -73.01%, but the outlook for the next 5-year period is at -8.10% per year.
Paramount Global is expected to release its next quarterly earnings report between February 14 and February 19. The 2.86% annual yield figure for the share gives it an annual dividend of 0.39. It is important to note, however, that the 2.86% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Paramount Global (NASDAQ:PARA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.83% of Paramount Global shares while 85.01% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.27%. There are 85.01% institutions holding the Paramount Global stock share, with Berkshire Hathaway, Inc the top institutional holder. As of Jun 29, 2023, the company held 15.36% of the shares, roughly 93.73 million PARA shares worth $1.49 billion.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.64% or 58.85 million shares worth $936.3 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 15.53 million shares estimated at $247.11 million under it, the former controlled 2.54% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 1.98% of the shares, roughly 12.07 million shares worth around $192.07 million.