Paramount Global (NASDAQ:PARA) price on current trading day, rose 0.42% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $10.85.
A look at the stock’s price movement, the level at last check in today’s session was $10.81, moving within a range at $10.725 and $10.94. The beta value (5-Year monthly) was 1.767. Turning to its 52-week performance, $17.50 and $9.54 were the 52-week high and 52-week low respectively. Overall, PARA moved -4.61% over the past month.
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Paramount Global’s market cap currently stands at around $7.77 billion, with investors looking forward to this quarter’s earnings report slated for in January. The company has a Forward Dividend ratio of 0.20, with its dividend yield at 1.84%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 8.1B for the company’s revenue for the quarter, with a low and high estimate of 7.54B and 8.54B respectively. The average forecast suggests up to a 6.02% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 29.37B, representing a -0.95% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PARA is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 75% Sell category.
16 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 5 recommend PARA as a Buy and 0 give it an Overweight rating. Meanwhile, 1 analyst(s) rate the stock as Underweight and 6 say it is a Sell. As such, the average rating for the stock is Sell which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PARA’s current price about -0.81% and 1.16% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.90, while 7-day volatility ratio is 2.19% and 3.40% in the 30-day chart. Further, Paramount Global (PARA) has a beta value of 1.73, and an average true range (ATR) of 0.32. Analysts have given the company’s stock an average 52-week price target of $10, forecast between a low of $8 and high of $14. Looking at the price targets, the low is 26.27% off recent price level in today’s trading while to achieve the yearly target high, it has to move -29.03%. Nonetheless, investors will most likely welcome a 7.83% jump to $10 which is the analysts’ median price.
If we refocus on Paramount Global (NASDAQ:PARA), historical trading data shows that trading volumes averaged 13.29 over the past 10 days and 8.67 million over the past 3 months. The company’s latest data on shares outstanding shows there are 626.00 million shares.
The 11.31% of Paramount Global’s shares are in the hands of company insiders while institutional holders own 72.49% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 57.16 million on 2024-11-15, giving us a short ratio of 7.19. The data shows that as of 2024-11-15 short interest in Paramount Global (PARA) stood at 965.9999599999999 of shares outstanding, with shares short falling to 64.24 million registered in 2024-10-15. Current price change has pushed the stock -26.61% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PARA stock continues to rise going into the next quarter.
