Paramount Global (NASDAQ:PARA) shares, rose in value on Thursday, March 14, with the stock price down by -3.55% to the previous day’s close as strong demand from buyers drove the stock to $11.27.
Actively observing the price movement in the recent trading, the stock is buoying the session at $11.68. The value of beta (5-year monthly) is 1.78. Referring to stock’s 52-week performance, its high was $24.00, and the low was $10.16. On the whole, PARA has fluctuated by -13.35% over the past month.
With the market capitalization of Paramount Global currently standing at about $7.35 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 0.39, with its dividend yield at 3.46%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.32, which is expected to increase to $0.33 for fiscal year $1.11 and then to about $1.31 by fiscal year 2025. Data indicates that the EPS growth is expected to be 113.50% in 2025, while the next year’s EPS growth is forecast to be 18.00%.
Analysts have estimated the company’s revenue for the quarter at $7.81 billion, with a low estimate of $7.64 billion and a high estimate of $8.1 billion. According to the average forecast, sales growth in current quarter could jump up 7.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $30.91 billion, representing an increase of 4.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PARA’s technical picture suggests that short-term indicators denote the stock is a 75% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PARA currently trading nearly -0.95% and -12.06% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.85, while the 7-day volatility ratio is showing 4.76% which for the 30-day chart, stands at 4.13%. Furthermore, Paramount Global (PARA)’s beta value is 1.79, and its average true range (ATR) is 0.52.
A comparison of Paramount Global (PARA) with its peers suggests the former has fared considerably weaker in the market. PARA showed an intraday change of -3.55% in today’s session so far, and over the past year, it shrunk by -42.67%%.
Data on historical trading for Paramount Global (NASDAQ:PARA) indicates that the trading volumes over the past 10 days have averaged 18.06 million and over the past 3 months, they’ve averaged 17.35 million. According to company’s latest data on outstanding shares, there are 612.00 million shares outstanding.
Nearly 11.52% of Paramount Global’s shares belong to company insiders and institutional investors own 73.67% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 84.8 million shares as on Feb 29, 2024, resulting in a short ratio of 4.3. According to the data, the short interest in Paramount Global (PARA) stood at 13.00% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 83.26 million. The stock has fallen by -23.83% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PARA stock heading into the next quarter.
