Market Analysts see Paramount Global [PARA] falling to $24. Time to buy?


Paramount Global [NASDAQ: PARA] closed the trading session at $24.60 on 06/21/22. The day’s price range saw the stock hit a low of $24.46, while the highest price level was $25.39. The company report on June 20, 2022 that PARAMOUNT’S MOUNTAIN OF ENTERTAINMENT ARRIVES IN THE UK AND IRELAND: PARAMOUNT+ LAUNCHES JUNE 22 FOLLOWING A STAR-STUDDED LONDON EVENT, REVEALING NEW SLATES AND EUROPEAN LAUNCH TIMING.

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Hosted by Graham Norton, some of the biggest stars from Paramount+ landed in London to preview their shows live on stage, including Kevin Costner, Viola Davis, Chiwetel Ejiofor, Naomie Harris, Faith Hill, Tim McGraw, Bill Nighy, David Oyelowo, Michelle Pfeiffer, Michael Shannon, Sylvester Stallone, and many more.

The stocks have a year to date performance of -18.49 percent and weekly performance of -4.69 percent. The stock has been moved at -16.67 percent over the last six months. The stock has performed -23.65 percent around the most recent 30 days and changed -32.42 percent over the most recent 3-months.

If compared to the average trading volume of 10.02M shares, PARA reached to a volume of 10403967 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Paramount Global [PARA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PARA shares is $35.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PARA stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Paramount Global shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on June 02, 2022. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Sell. The new note on the price target was released on April 19, 2022, representing the official price target for Paramount Global stock. Previously, the target price had yet another raise to $42, while JP Morgan analysts kept a Neutral rating on PARA stock.

The Average True Range (ATR) for Paramount Global is set at 1.41, with the Price to Sales ratio for PARA stock in the period of the last 12 months amounting to 0.56. The Price to Book ratio for the last quarter was 0.70, with the Price to Cash per share for the same quarter was set at 8.22.

PARA stock trade performance evaluation

Paramount Global [PARA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.69. With this latest performance, PARA shares dropped by -23.65% in over the last four-week period, additionally sinking by -16.67% over the last 6 months – not to mention a drop of -39.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PARA stock in for the last two-week period is set at 29.02, with the RSI for the last a single of trading hit 23.30, and the three-weeks RSI is set at 33.00 for Paramount Global [PARA]. The present Moving Average for the last 50 days of trading for this stock 30.61, while it was recorded at 24.89 for the last single week of trading, and 33.96 for the last 200 days.

Paramount Global [PARA]: An insightful look at the core fundamentals

Paramount Global’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Paramount Global [PARA] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PARA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Paramount Global go to -6.37%.

Paramount Global [PARA]: Insider Ownership positions

There are presently around $11,716 million, or 80.10% of PARA stock, in the hands of institutional investors. The top three institutional holders of PARA stocks are: BERKSHIRE HATHAWAY INC with ownership of 68,947,760, which is approximately New of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 66,662,966 shares of the stock with an approximate value of $1.64 billion in PARA stocks shares; and BLACKROCK INC., currently with $1.11 billion in PARA stock with ownership of nearly 2.11% of the company’s market capitalization.

530 institutional holders increased their position in Paramount Global [NASDAQ:PARA] by around 129,152,817 shares. Additionally, 438 investors decreased positions by around 68,381,173 shares, while 118 investors held positions by with 279,515,507 shares. The mentioned changes placed institutional holdings at 477,049,497 shares, according to the latest SEC report filing. PARA stock had 138 new institutional investments in for a total of 77,228,333 shares, while 148 institutional investors sold positions of 18,361,041 shares during the same period.