In today’s recent session, 4.57 million shares of the Paramount Global (NASDAQ:PARA) have been traded, and its beta is 1.75. Most recently the company’s share price was $10.45, and it changed around -$0.16 or -1.51% from the last close, which brings the market valuation of the company to $7.43B. PARA at last check was trading at a discount to its 52-week high of $17.50, offering almost -67.46% off that amount. The share price’s 52-week low was $9.54, which indicates that the recent value has risen by an impressive 8.71% since then. We note from Paramount Global’s average daily trading volume that its 10-day average is 11.82 million shares, with the 3-month average coming to 8.23 million.
Paramount Global stock received a consensus recommendation rating of Hold, based on a mean score of 3.36. If we narrow it down even further, the data shows that 7 out of 27 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 13 recommended PARA as a Hold, whereas 2 deemed it a Buy, and 3 rated it as Underweight. Paramount Global is expected to report earnings per share of 0.19 for the current quarter.
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Paramount Global (NASDAQ:PARA) trade information
Instantly PARA has been showing red trend so far today with a performance of -1.51% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 11.51 on recent trading dayincreased the stock’s daily price by 9.21%. The company’s shares are currently down -29.34% year-to-date, but still down -8.73% over the last five days. On the other hand, Paramount Global (NASDAQ:PARA) is 1.36% up in the 30-day period. We can see from the shorts that 64.02 million shares have been sold at a short interest cover period of 11.62 day(s).
The consensus price target as assigned by Wall Street analysts is $14, which translates to bulls needing to increase their stock price by 25.36% from its current value. Analyst projections state that PARA is forecast to be at a low of $8 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 -13.64 percent over the past six months and at a 257.69% annual growth rate that is well above the industry average of -12.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 383.00% in revenue this quarter, and will report a decrease of -15.77% in the next quarter. The year-over-year growth rate is expected to be -0.81%, down from the previous year.
Consensus estimates provided by 22 financial analysts predict the company will bring in an average of 8.1B in revenue for the current quarter. 10 analysts expect Paramount Global to make 7.24B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 7.64B and 7.68B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 6.01%. Forecasts for the next quarter put sales growth at -5.85%.
Paramount Global earnings are expected to increase by 247.64% in 2024, but the outlook is positive 45.00% per year for the next five years.
PARA Dividends
Paramount Global’s next quarterly earnings report is expected to be released on 2025-Feb-26. The annual dividend yield of the stock is 1.91 percent and its annual dividend per share was 0.20. It is important to note, however, that the 1.91% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 3.29 per year.
Paramount Global (NASDAQ:PARA)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.54% of Paramount Global shares, and 77.70% of them are in the hands of institutional investors. The stock currently has a share float of 82.26%. Paramount Global stock is held by 939.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 9.7636% of the shares, which is about 63.85 million shares worth $663.45 million.
BLACKROCK INC., with 8.8751% or 58.04 million shares worth $603.07 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
