ViacomCBS (VIAC, $35.99) misses Q4 earnings estimates; changes name to Paramount
ViacomCBS VIAC shares fell Wednesday, after the media giant reported its fourth quarter earnings that fell short of analysts’ expectations. The company also announced its change of name to Paramount.
Viacom’s earnings for the quarter ended December came in at 26 cents per share, well below the Street forecasts.
Revenues rose +16% from the year-ago quarter to $8 billion. Streaming revenues were $1.33 billion while cable network revenues climbed +16.3% to $4 billon. Ad revenues were almost flat vs. last year at $2.6 billion.
ViacomCBS’s Paramount+ streaming service added 1 million subscribers in just a week in November following the release of adult drama “Mayor of Kingstown”, family movie “Clifford the Big Red Dog”, and concert event “Adele: One Night Only.” During the quarter, it added 9.4 million global streaming subscribers, taking its total count to 56 million subscribers.
The group will also officially change its name to Paramount today, with a new ticker symbol PARA to replace the existing VIAC on the Nasdaq.
ViacomCBS expects to have 100 million streaming subscribers by 2024, up from its prior forecast of around 70 million. The company plans to spend more than $6 billion a year on content. The company projects revenues of around $9 billion for 2024, up from a prior estimate of $6 billion
PARA's RSI Oscillator climbs out of oversold territory
The RSI Indicator for PARA moved out of oversold territory on May 26, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 30 similar instances when the indicator left oversold territory. In of the 30 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for PARA just turned positive on May 30, 2023. Looking at past instances where PARA's MACD turned positive, the stock continued to rise in of 42 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where PARA advanced for three days, in of 348 cases, the price rose further within the following month. The odds of a continued upward trend are .
PARA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 54 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 .
The Momentum Indicator moved below the 0 level on June 01, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on PARA as a result. In of 78 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
PARA moved below its 50-day moving average on May 04, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for PARA crossed bearishly below the 50-day moving average on May 08, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
The 50-day moving average for PARA moved below the 200-day moving average on May 17, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
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 .
The Aroon Indicator for PARA entered a downward trend on June 02, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
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 seriously 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 (0.459) is normal, around the industry mean (4.164). P/E Ratio (15.924) is within average values for comparable stocks, (73.786). Projected Growth (PEG Ratio) (1.026) is also within normal values, averaging (2.625). Dividend Yield (0.062) settles around the average of (0.059) among similar stocks. P/S Ratio (0.332) is also within normal values, averaging (111.483).
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 Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
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.
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Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a mass media company, which creates and distributes content across a variety of platforms to audiences around the world.
Industry MoviesEntertainment
PARA and
Correlation & Price change
A.I.dvisor indicates that over the last year, PARA has been closely correlated with PARAA. These tickers have moved in lockstep 99% of the time. This A.I.-generated data suggests there is a high statistical probability that if PARA jumps, then PARAA could also see price increases.
| Ticker / NAME | Correlation To PARA | 1D Price Change % | ||
|---|---|---|---|---|
| PARA | 100% | +1.18% | ||
| PARAA - PARA | 99% Closely correlated | +1.31% | ||
| PARAP - PARA | 96% Closely correlated | +0.77% | ||
| AMCX - PARA | 68% Closely correlated | +0.88% | ||
| WBD - PARA | 63% Loosely correlated | +0.62% | ||
| NXST - PARA | 61% Loosely correlated | +0.89% | ||
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