Paramount Global (NASDAQ: PARA) has reported a loss for its first fiscal quarter (ending March 31) of $-0.88 versus a loss $-1.81 for the same period a year ago. This result fell short of the consensus estimate of $0.33 by $-1.21. For the latest four quarters through March 31, E.P.S. were $-1.13 versus $-1.36 for the same period a year ago.
Recent Price Action
Paramount Global (NASDAQ: PARA) stock enjoyed a large increase of 2.9% on 4/29/24. The stock closed at $12.25. Moreover, this advance was accompanied by above average trading volume at 125% of normal. The stock has been weak relative to the market over the last nine months and has declined -1.5% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, PARA is expected to continue to be a modest Value Builder.
Paramount Global has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Paramount Global has a very high Appreciation Score of 97 but a poor Power Rating of 19, triggering the High Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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