In last trading session, Paramount Global (NASDAQ:PARA) saw 25.0 million shares changing hands with its beta currently measuring 1.79. Company’s recent per share price level of $11.82 trading at -$0.69 or -5.52% at ring of the bell on the day assigns it a market valuation of $7.71B. That closing price of PARA’s stock is at a discount of -103.05% from its 52-week high price of $24.00 and is indicating a premium of 14.04% from its 52-week low price of $10.16. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 19.68 million shares which gives us an average trading volume of 17.39 million if we extend that period to 3-months.
Paramount Global (NASDAQ:PARA) trade information
Upright in the red during last session for losing -5.52%, in the last five days PARA remained trading in the green while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $11.82 price level, adding 7.0% to its value on the day. Paramount Global’s shares saw a change of -20.08% in year-to-date performance and have moved 4.97% in past 5-day. Paramount Global (NASDAQ:PARA) showed a performance of 0.17% in past 30-days. Number of shares sold short was 84.8 million shares which calculate 4.3 days to cover the short interests.
Paramount Global (PARA) estimates and forecasts
Statistics highlight that Paramount Global is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -10.73% of value to its shares in past 6 months, showing an annual growth rate of 132.69% while that of industry is 6.20. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 255.60% in the current quarter and calculating 40.00% increase in the next quarter. This year revenue growth is estimated to rise 4.20% from the last financial year’s standing.
23 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $7.81 billion for the same. And 21 analysts are in estimates of company making revenue of $7.46 billion in the next quarter that will end on Jun 2024. Company posted $7.26 billion and $7.62 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 7.50% while estimating it to be -2.10% for the next quarter.
In 2024, company’s earnings growth rate is likely to be around 110.32% while estimates for its earnings growth in next 5 years are of 29.37%.
PARA Dividends
Paramount Global is more likely to be releasing its next quarterly report between May 02 and May 06 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Paramount Global (NASDAQ:PARA)’s Major holders
Insiders are in possession of 16.23% of company’s total shares while institution are holding 68.89 percent of that, with stock having share float percentage of 82.23%. Investors also watch the number of corporate investors in a company very closely, which is 68.89% institutions for Paramount Global that are currently holding shares of the company. Berkshire Hathaway, Inc is the top institutional holder at PARA for having 93.73 million shares of worth $1.49 billion. And as of Jun 29, 2023, it was holding 15.36% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 58.85 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 9.64% of outstanding shares, having a total worth of $936.3 million.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 15.53 million shares of worth $247.11 million or 2.54% of the total outstanding shares. The later fund manager was in possession of 12.07 million shares on Jun 29, 2023, making its stake of worth around $192.07 million in the company or a holder of 1.98% of company’s stock.
