Paramount Global (NASDAQ: PARA) stock fell -1.88% on Wednesday to $14.64 against a previous-day closing price of $14.92. With 23.95 million shares changed hands, the volume of the stock remained heavier than its average volume of 13.01 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $14.81 whereas the lowest price it dropped to was $14.34. The 52-week range on PARA shows that it touched its highest point at $34.50 and its lowest point at $14.76 during that stretch. It currently has a 1-year price target of $19.08. With its current market cap of 9.97 billion, PARA has annualized dividend of $0.20 while the current yield stands at 1.37%. Beta for the stock currently stands at 1.70.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PARA was down-trending over the past week, with a drop of -5.97%, but this was down by -33.36% over a month. Three-month performance dropped to -37.54% while six-month performance fell -20.95%. The stock lost -55.76% in the past year, while it has lost -13.27% so far this year. A look at the trailing 12-month EPS for PARA yields -1.36 with Next year EPS estimates of 1.48. For the next quarter, that number is 0.04. This implies an EPS growth rate of -84.50% for this year and 119.97% for next year. EPS is expected to grow by 3.97% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -27.30%.
Float and Shares Shorts:
At present, 651.00 million PARA shares are outstanding with a float of 584.77 million shares on hand for trading. On Apr 27, 2023, short shares totaled 91.55 million, which was 14.06% higher than short shares on Mar 30, 2023. In addition to Mr. Robert Marc Bakish as the firm’s Pres, CEO & Director, Mr. Naveen K. Chopra serves as its Exec. VP & CFO.
Institutional Ownership:
Other institutions hold 46.25% of PARA, in contrast to 4.89% held by mutual funds. Shares owned by individuals account for 38.72%. As the largest shareholder in PARA with 15.37% of the stake, Berkshire Hathaway, Inc. holds 93,730,975 shares worth 93,730,975. A second-largest stockholder of PARA, The Vanguard Group, Inc., holds 56,405,389 shares, controlling over 9.25% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PARA, holding 39,323,822 shares or 6.45% stake. With a 2.71% stake in PARA, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 16,525,400 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.54% of PARA stock, is the second-largest Mutual Fund holder. It holds 15,504,043 shares valued at 361.71 million. iShares Tr. – Select Dividend ETF holds 2.05% of the stake in PARA, owning 12,475,133 shares worth 291.04 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PARA reported revenue of $7.78B and operating income of $853.00M. The EBITDA in the recently reported quarter was $964.00M and diluted EPS was $0.62.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PARA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PARA analysts setting a high price target of $32.00 and a low target of $11.00, the average target price over the next 12 months is $18.63. Based on these targets, PARA could surge 118.58% to reach the target high and fall by -24.86% to reach the target low. Reaching the average price target will result in a growth of 27.25% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, PARA has a current ratio of $0.2, which is $0.2 over the trailing 12-months, while a dividend of $0.87 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and PARA currently yields $6.56. In the past year, PARA’s dividend yield has been $6.56, but when looking at the stock over the past five years, its yield has been $2.76. Accordingly, PARA has a current buyback yield of $0.0. This was $0.0 for the TTM, and it was $1.42 for the past five years.
Summary of Insider Activity:
Insiders traded PARA stock several times over the past three months with 9 Buys and 7 Sells. In these transactions, 109,089 shares were bought while 42,145 shares were sold. The number of buy transactions has increased to 58 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 585,001 while 248,202 shares were sold.
