Loop Capital slashes price target on Paramount Global [PARA] – find out why.

Paramount Global [NASDAQ: PARA] traded at a high on 01/17/23, posting a 2.89 gain after which it closed the day’ session at $20.64. The company report on January 17, 2023 that Paramount Global to Report Fourth Quarter and Full Year 2022 Financial Results on February 16, 2023.

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Paramount Global (NASDAQ: PARA, PARAA) announced today that it will report fourth quarter and full year 2022 financial results on Thursday, February 16, 2023. The company will conduct a conference call at 8:30 a.m. (ET) following the release of its earnings materials.

A live audio webcast will be available on Paramount’s Investors homepage at ir.paramount.com beginning at 8:30 a.m. (ET) on February 16.

The results of the trading session contributed to over 10447450 shares changing hands. Over the past one week, the price volatility of Paramount Global stands at 3.35% while the volatility over the past one month is 4.20%.

The market cap for PARA stock reached $13.66 billion, with 649.00 million shares outstanding and 584.77 million shares in the current float. Compared to the average trading volume of 12.39M shares, PARA reached a trading volume of 10447450 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $20.04 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 3.10. 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.

Loop Capital have made an estimate for Paramount Global shares, keeping their opinion on the stock as Sell, with their previous recommendation back on December 23, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $19 to $13. The new note on the price target was released on October 31, 2022, representing the official price target for Paramount Global stock. Previously, the target price had yet another drop from $40 to $19, while Wells Fargo kept a Equal Weight rating on PARA stock.

The Average True Range (ATR) for Paramount Global is set at 0.82, with the Price to Sales ratio for PARA stock in the period of the last 12 months amounting to 0.45. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 5.11.

How has PARA stock performed recently?

Paramount Global [PARA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.58. With this latest performance, PARA shares gained by 6.61% in over the last four-week period, additionally sinking by -15.82% over the last 6 months – not to mention a drop of -42.97% 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 68.23, with the RSI for the last a single of trading hit 77.67, and the three-weeks RSI is set at 61.77 for Paramount Global [PARA]. The present Moving Average for the last 50 days of trading for this stock 18.33, while it was recorded at 20.16 for the last single week of trading, and 24.08 for the last 200 days.

Paramount Global [PARA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Paramount Global [PARA] shares currently have an operating margin of +14.18 and a Gross Margin at +36.56. Paramount Global’s Net Margin is presently recorded at +15.33.

Return on Equity for this stock inclined to 23.20, with Return on Assets sitting at 7.87.

Paramount Global’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.

Earnings analysis for Paramount Global [PARA]

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 -11.33%.

Insider trade positions for Paramount Global [PARA]

There are presently around $10,043 million, or 81.80% of PARA stock, in the hands of institutional investors. The top three institutional holders of PARA stocks are: BERKSHIRE HATHAWAY INC with ownership of 91,216,510, which is approximately 16.315% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 57,511,227 shares of the stock with an approximate value of $1.19 billion in PARA stocks shares; and BLACKROCK INC., currently with $838.65 million in PARA stock with ownership of nearly -9.547% of the company’s market capitalization.

Positions in Paramount Global stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 374 institutional holders increased their position in Paramount Global [NASDAQ:PARA] by around 41,951,685 shares. Additionally, 414 investors decreased positions by around 30,583,630 shares, while 129 investors held positions by with 414,062,705 shares. The mentioned changes placed institutional holdings at 486,598,020 shares, according to the latest SEC report filing. PARA stock had 72 new institutional investments in for a total of 3,839,781 shares, while 132 institutional investors sold positions of 4,676,670 shares during the same period.

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