Paramount Global (NASDAQ:PARA) has a beta value of 1.73 and has seen 1.18 million shares traded in the recent trading session. The company, currently valued at $7.70B, closed the recent trade at $10.78 per share which meant it gained $0.14 on the day or 1.36% during that session. The PARA stock price is -62.34% off its 52-week high price of $17.50 and 11.5% above the 52-week low of $9.54. If we look at the company’s 10-day average daily trading volume, we find that it stood at 16.4 million shares traded. The 3-month trading volume is 9.14 million shares.
The consensus among analysts is that Paramount Global (PARA) is Sell stock at the moment, with a recommendation rating of 3.26. 6 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 16 have rated it as a Hold, with 5 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is 0.19.
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Paramount Global (NASDAQ:PARA) trade information
Sporting 1.36% in the green today, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the PARA stock price touched $10.78 or saw a rise of 4.18%. Year-to-date, Paramount Global shares have moved -27.08%, while the 5-day performance has seen it change 1.94%. Over the past 30 days, the shares of Paramount Global (NASDAQ:PARA) have changed 3.01%. Short interest in the company has seen 57.16 million shares shorted with days to cover at 7.19.
Wall Street analysts have a consensus price target for the stock at $14, which means that the shares’ value could jump 23.0% from the levels at last check today. The projected low price target is $8.0 while the price target rests at a high of $37.0. In that case, then, we find that the latest price level in today’s session is -243.23% off the targeted high while a plunge would see the stock lose 25.79% from the levels at last check today.
Paramount Global (PARA) estimates and forecasts
Figures show that Paramount Global shares have outperformed across the wider relevant industry. The company’s shares have lost -8.76% over the past 6 months, with this year growth rate of 257.69%, compared to -12.70% for the industry. Revenue growth from the last financial year stood is estimated to be -0.88%.
22 analysts offering their estimates for the company have set an average revenue estimate of 8.1B for the current quarter. 10 have an estimated revenue figure of 7.24B for the next ending quarter. Year-ago sales stood 7.64B and 7.68B respectively for this quarter and the next, and analysts expect sales will grow by 6.02% for the current quarter and -0.88% for the next.
Earnings growth for 2024 is a modest 249.61% while over the next 5 years, the company’s earnings are expected to increase by 45.00%.
PARA Dividends
Paramount Global is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.20 at a share yield of 1.85%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 3.29%.
Paramount Global (NASDAQ:PARA)’s Major holders
Insiders own 5.54% of the company shares, while shares held by institutions stand at 77.64% with a share float percentage of 82.20%. Investors are also buoyed by the number of investors in a company, with Paramount Global having a total of 938.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 63.85 million shares worth more than $663.45 million. As of 2024-06-30, VANGUARD GROUP INC held 9.7636% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 58.04 million shares as of 2024-06-30. The firm’s total holdings are worth over $603.07 million and represent 8.8751% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Idx Shares-SPDR Communication Services Select Sector ETF and Vanguard Total Stock Market Index Fund. As of Sep 30, 2024, the former fund manager holds about 3.01% shares in the company for having 18.86 shares of worth $201.26 million while later fund manager owns 17.33 shares of worth $184.95 million as of Jun 30, 2024, which makes it owner of about 2.77% of company’s outstanding stock.
