Paramount Global (NASDAQ:PARA) traded at $10.64 at close of the session on Tuesday, November 26 and made a downward move of -4.32% on its previous day’s price.
Looking at the stock we see that its previous close was $11.12 and the beta (5Y monthly) reads 1.767 with the day’s price range being $10.6 – $11.19. In terms of its 52-week price range, PARA has a high of $17.50 and a low of $9.54. The company’s stock has gained about 2.01% over that past 30 days.
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Paramount Global has a market cap of $7.54 billion and is expected to release its quarterly earnings report in December. With its Forward Dividend at 0.20 and a yield of 1.88%, the company’s investors could be anxious for the PARA stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of 0.19, with the EPS growth for the year raised at 1.82 for current year and 1.82 for next year.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 8.1B, with a low of 7.54B and a high of 8.54B. The median projection represents growth squeezing down to 6.02% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 29.39B, or -0.88% down from figures reported last year.
On the other hand, looking at the outlook for the PARA stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 100% Sell.
Based on estimates by 16 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 4 have rated the Paramount Global (PARA) stock as a Hold, while 5 rate it as a Buy. 0 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 6 suggest the stock as a Sell. The stock has an overall rating of Sell and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is -3.33% off its SMA20 and -0.35% from its 50-day simple moving average. The RSI (14) is pointing at 46.90 while the volatility over the past week is 4.34% and jumps to 3.42% over the past one month. The beta value is 1.74, while the average true range (ATR) is currently pointing at 0.36. The average price target for the stock over the next 12 months is $14, with the estimates having a low of $8 and a high of $37. These price ends are 24.81% and -247.74% off the current price level respectively, although investors could be excited at the prospect of a -31.58% if the PARA share price touches on the median price of $14.
Coming back to Paramount Global (NASDAQ:PARA), we note that the average 3-month trading volume was 9.09 million, while that of the preceding 10-day period stands at 16.1 million. Current shares outstanding are 612.00 million.
The insiders hold 11.31% of the company’s shares while institutions hold 72.46%. The data shows that short shares as of 2024-11-15, stood at 57.16 million at a short ratio of 7.19. This represents a 966.00 short interest in shares outstanding on 2024-11-15. Shares short fall in November from the previous month at 64.24 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -28.06% down in year-to-date price movement.
