Paramount Global [NASDAQ: PARA] stock went on an upward path that rose over 12.90% on Friday, amounting to a one-week price decrease of less than -10.60%. The company report on February 8, 2024 at 12:45 PM that PARAMOUNT PICTURES ANNOUNCES RENEWAL OF MULTI-YEAR FIRST LOOK DEAL WITH RYAN REYNOLDS’ PRODUCTION COMPANY MAXIMUM EFFORT.
This latest deal extends a partnership between the studio and production company that launched in 2021.
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Paramount Pictures announced today that it has renewed its first look development deal with Ryan Reynolds’ Maximum Effort Productions for an additional three-year term, taking the studio’s partnership with the production company through December 2026.
Over the last 12 months, PARA stock dropped by -42.46%. The one-year Paramount Global stock forecast points to a potential upside of 9.65. The average equity rating for PARA stock is currently 3.26, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.40 billion, with 609.00 million shares outstanding and 576.53 million shares in the current float. Compared to the average trading volume of 0.58 shares, PARA stock reached a trading volume of 16.65M in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $14.40 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 3.26. 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.
Redburn Atlantic have made an estimate for Paramount Global shares, keeping their opinion on the stock as Sell, with their previous recommendation back on January 11, 2024.
The Average True Range (ATR) for Paramount Global is set at 0.62, with the Price to Sales ratio for PARA stock in the period of the last 12 months amounting to 0.28. The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 2.77.
PARA Stock Performance Analysis:
Paramount Global [PARA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.60. With this latest performance, PARA shares dropped by -8.64% in over the last four-week period, additionally sinking by -16.61% over the last 6 months – not to mention a drop of -42.46% 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 38.33, with the RSI for the last a single of trading hit 34.01, and the three-weeks RSI is set at 41.56 for Paramount Global [PARA]. The present Moving Average for the last 50 days of trading for this stock 14.54, while it was recorded at 13.35 for the last single week of trading, and 14.65 for the last 200 days.
Insight into Paramount Global Fundamentals:
Paramount Global’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.09 and a Current Ratio set at 1.26.
PARA Stock EPS
With the latest financial reports released by the company, Paramount Global posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.23/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -65.20%. 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 -8.10%.
Paramount Global [PARA] Institutonal Ownership Details
The top three institutional holders of PARA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PARA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PARA stock with ownership which is approximately 5.8325%.
