Paramount Global (NASDAQ:PARA) saw an upside of 4.24% to close Monday at $21.16 after adding $0.86 on the day. The 5-day average trading volume is 9,328,780 shares of the company’s common stock. It has gained $21.28 in the past week and touched a new high 3 times within the past 5 days. An average of 9,608,670 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 12,125,466.
PARA’s 1-month performance is 25.36% or $4.50 on its low of $16.07 reached on 12/27/22. The company’s shares have touched a 52-week low of $15.29 and high of $39.21, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, PARA has achieved 25.36% or $4.28 and has reached a new high 11 times. However, the current price is down -46.03% from the 52-week high price.
PARA stock has a beta of 1.57. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.45 while the price-to-book (PB) in the most recent quarter is 0.61.
Paramount Global’s quick ratio for the period ended June 29 was 1.20, with the current ratio over the same period at 1.30. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.69, while the total debt to equity was 0.70. In terms of profitability, the gross margin trailing 12 months is 34.00%. The firm’s gross profit as reported stood at $10.84 billion against revenue of $28.59 billion.
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected PARA to announce $0.61 per share in earnings in its latest quarter, but it posted $0.64, representing a 4.90% surprise. EBITDA for the quarter stood at more than $658.0 million. PARA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 34.15 billion, with total debt at $17.32 billion. Shareholders hold equity totaling $649.17 million.
Let’s look briefly at Paramount Global (PARA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 71.39% to suggest the stock is trending Overbought, with historical volatility in this time period at 35.50%.
The stock’s 5-day moving average is $20.34, reflecting a +5.48% or $1.10 change from its current price. PARA is currently trading +25.36% above its 20-day SMA, -13.06% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +27.62% and SMA200 by-42.56%.
Stochastic %K and %D was 84.23% and 81.64% and the average true range (ATR) pointed at 0.85. The RSI (14) points at 66.50%, while the 14-day stochastic is at 97.28% with the period’s ATR at 0.86. The stock’s 9-day MACD Oscillator is pointing at 0.14 and 0.72 on the 14-day charts.
In the most recent analyst report for Paramount Global (NASDAQ: PARA), Loop Capital downgraded it to a Sell rating. They previously had a Hold rating on the stock. Analysts offering their rating for PARA stock have a consensus rating for the stock as Hold. Currently, 11 brokerage advisors rate PARA as a “sell,”, while 10 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 7 have offered a “buy” rating.
What is PARA’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $11.00 and a high of $32.00, with their median price target at $17.50. Looking at these predictions, the average price target given by analysts is for Paramount Global (PARA) stock is $18.89.