Paramount Global (NASDAQ:PARA) price on Friday, May 10, rose 0.87% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $13.19.
A look at the stock’s price movement, the level at last check in today’s session was $13.08. Turning to its 52-week performance, $17.50 and $10.12 were the 52-week high and 52-week low respectively. Overall, PARA moved 17.07% over the past month.
Paramount Global’s market cap currently stands at around $8.79 billion. The company has a Forward Dividend ratio of 0.20, with its dividend yield at 1.52%. 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 7.25B for the company’s revenue for the quarter, with a low and high estimate of 6.92B and 7.55B respectively. The average forecast suggests down to a -4.90% 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 30.45B, representing a 2.70% jump 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 50% Buy category.
PARA’s current price about 8.53% and 12.83% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.06, while 7-day volatility ratio is 5.49% and 5.73% in the 30-day chart. Further, Paramount Global (PARA) has a beta value of 1.82, and an average true range (ATR) of 0.73.
If we refocus on Paramount Global (NASDAQ:PARA), historical trading data shows that trading volumes averaged 21.96 million over the past 3 months. The company’s latest data on shares outstanding shows there are 612.00 million shares.
The 11.27% of Paramount Global’s shares are in the hands of company insiders while institutional holders own 73.40% of the company’s shares. Current price change has pushed the stock -10.79% 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.