After the bell Monday, ViacomCBS announced that it will sell $3 billion in stock in two secondary offerings, for bolstering its streaming services among other purposes.
The media behemoth plans to sell $2 billion of its Class B common stock and $1 billion of its Series A Mandatory Convertible Preferred stock. It has given the underwriters separate 30-day options to buy up to $300 million of Class B common stock and up to $150 million of Mandatory Convertible Preferred.
ViacomCBS aims to use the combined net proceeds for general corporate purposes, including investments in streaming.
Oprah Winfrey's interview with Prince Harry and Meghan Markle garnered 17.1 million viewers for CBS on March 7, according to data from ratings provider Nielsen.
The National Football League announced last week that CBS has won the rights to continue broadcasting American Football Conference Sunday afternoon games for the 10-year period from 2023 to 2033. The games will be streamed live on Paramount+ also shown on the CBS Television Network. CBS will carry the Super Bowl in 2023, 2027 and 2031. The cost will reportedly be around $2 billion a year.
The 10-day moving average for PARA crossed bullishly above the 50-day moving average on April 24, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 19, 2024. You may want to consider a long position or call options on PARA as a result. In of 75 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for PARA just turned positive on April 19, 2024. Looking at past instances where PARA's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
PARA moved above its 50-day moving average on May 01, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where PARA advanced for three days, in of 316 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 209 cases where PARA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The 10-day RSI Indicator for PARA moved out of overbought territory on April 04, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 23 similar instances where the indicator moved out of overbought territory. In of the 23 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 52 cases where PARA's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where PARA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
PARA broke above its upper Bollinger Band on April 03, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.340) is normal, around the industry mean (5.464). P/E Ratio (15.924) is within average values for comparable stocks, (87.119). Projected Growth (PEG Ratio) (0.236) is also within normal values, averaging (2.822). Dividend Yield (0.017) settles around the average of (0.040) among similar stocks. P/S Ratio (0.258) is also within normal values, averaging (28.528).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. PARA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. PARA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a mass media company, which creates and distributes content across a variety of platforms to audiences around the world.
Industry MoviesEntertainment