Here's Why Paramount Global-B (PARA) is a Strong Momentum Stock

Core Insights - Zacks Premium offers various tools to help investors maximize stock market opportunities and invest confidently [1][2] Zacks Style Scores - Zacks Style Scores provide a unique rating system for stocks based on value, growth, and momentum, serving as complementary indicators to the Zacks Rank [3][4] - Stocks are rated from A to F, with A indicating the highest potential for outperforming the market [4] Categories of Style Scores - Value Score: Focuses on identifying undervalued stocks using ratios like P/E, PEG, and Price/Sales [5] - Growth Score: Evaluates a company's financial health and future growth potential through earnings and cash flow analysis [6] - Momentum Score: Targets stocks with upward or downward trends, utilizing price changes and earnings estimate shifts [7] - VGM Score: Combines the three Style Scores to identify stocks with attractive value, growth, and momentum [8] Zacks Rank and Earnings Estimates - The Zacks Rank is a proprietary model that leverages earnings estimate revisions to guide investors in stock selection [9] - Stocks rated 1 (Strong Buy) have historically achieved an average annual return of +25.41%, significantly outperforming the S&P 500 [10] Stock Selection Strategy - To optimize returns, investors should focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [12] - The direction of earnings estimate revisions is crucial; stocks with lower ranks but high Style Scores may still face downward price pressure [13] Company Spotlight: Paramount Global - Paramount Global operates in the media and entertainment sector, offering content through brands like CBS, Showtime, and Paramount+ [15] - Currently rated 3 (Hold) with a VGM Score of A, Paramount Global has a Momentum Style Score of B and a recent share price increase of 0.3% [16] - The company has seen seven analysts raise their earnings estimates for fiscal 2024, with the consensus estimate increasing by $0.36 to$1.86 per share [16] - With strong Style Scores and a solid Zacks Rank, Paramount Global is recommended for investors' consideration [17]