Future Outlook And Paramount Global Stock Price Performance

In today’s recent session, 3.7 million shares of the Paramount Global (NASDAQ:PARA) have been traded, and its beta is 1.79. Most recently the company’s share price was $11.61, and it changed around -$0.16 or -1.36% from the last close, which brings the market valuation of the company to $7.58B. PARA at last check was trading at a discount to its 52-week high of $24.00, offering almost -106.72% off that amount. The share price’s 52-week low was $10.16, which indicates that the recent value has risen by an impressive 12.49% since then. We note from Paramount Global’s average daily trading volume that its 10-day average is 16.51 million shares, with the 3-month average coming to 17.05 million.

Paramount Global (NASDAQ:PARA) trade information

Instantly PARA has been showing red trend so far today with a performance of -1.36% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -21.50% year-to-date, but still up 3.20% over the last five days. On the other hand, Paramount Global (NASDAQ:PARA) is 5.16% up in the 30-day period. We can see from the shorts that 90.26 million shares have been sold at a short interest cover period of 4.67 day(s).

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The consensus price target as assigned by Wall Street analysts is $19.08, which translates to bulls needing to increase their stock price by 39.15% from its current value. Analyst projections state that PARA is forecast to be at a low of $13 and a high of $37.

Paramount Global (PARA) estimates and forecasts

Paramount Global share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -9.44 percent over the past six months and at a 132.69% annual growth rate that is well above the industry average of 5.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 255.60% in revenue this quarter, and will report an increase of 30.00% in the next quarter. The year-over-year growth rate is expected to be 4.10%, up from the previous year.

Consensus estimates provided by 23 financial analysts predict the company will bring in an average of $7.79 billion in revenue for the current quarter. 21 analysts expect Paramount Global to make $7.45 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $7.26 billion and $7.62 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.20%. Forecasts for the next quarter put sales growth at -2.10%.

Paramount Global earnings are expected to increase by 108.26% in 2024, but the outlook is positive 29.37% per year for the next five years.

PARA Dividends

Paramount Global’s next quarterly earnings report is expected to be released around May 02 and May 06. The annual dividend yield of the stock is 1.72 percent and its annual dividend per share was 0.20. It is important to note, however, that the 1.72% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Paramount Global (NASDAQ:PARA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 16.23% of Paramount Global shares, and 68.86% of them are in the hands of institutional investors. The stock currently has a share float of 82.21%. Paramount Global stock is held by 1,026 institutions, with Berkshire Hathaway, Inc being the largest institutional investor. By Jun 29, 2023, it held 15.36% of the shares, which is about 93.73 million shares worth $1.49 billion.

Vanguard Group Inc, with 9.64% or 58.85 million shares worth $936.3 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 15.53 million shares worth $247.11 million, making up 2.54% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 12.07 million shares worth around $192.07 million, which represents about 1.98% of the total shares outstanding.