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April 18, 2023
Pay attention to the following communication_services stocks approaching critical price targets: The New York Times Company, Telefônica Brasil S.A., Zoom are the ones to watch.
Today's session summary: Markets did not have a clear cut direction — S&P 500 closed at 4,155 after a flat day. Dow Jones closed 33,977 after a stable day.
What is a Price Target?
A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Check out this rundown of communication_services stocks and their price targets.
The New York Times now at $39.63 | Forthcoming price target: 26 cents lower at $39.89
Early in today's session, The New York Times Company dropped to $39.51 from $40.34 at the end of yesterday, before closing at $39.63. During the session, it lost 1.76%. The day's trading volume totalled 695,985 shares — slightly below the 21-day average of 903,132.
The US mass media company now trading 18.33% above its 3-month low of $27.9. Currently, the US mass media company has a market capitalization of $6.49 billion with an average daily trading volume of 903,132 shares. The New York Times is forecasted to generate revenues of $646.44 million and EPS of 44 cents.
Bearish run for the New York Times is facing a possible turning point at $39.89, which is only 26 cents away. If this support line fails to hold, the next target will be at $39.44.
Telefonica active price target: $8.03; currently at $8.14
After ending yesterday at $8.22, Telefonica dropped to $8.11 early in today's session and closed at $8.14. In total, it lost 0.91%. Today's fall came on the back of a 10 day uptrend, during which Telefonica added 9.33% to its share price the day's trading volume totalled 1.57 million shares — slightly under the 21-day average of 2 million.
Telefonica hit a significant low of $6.49 around 3 months ago, but has since recovered 26.66%. Telefonica's market cap currently stands at $13.64 billion with an average daily volume of 2 million shares. So far this year, it has been outperforming the Nasdaq by 12.1%. Telefonica has a forecast of $2.39 billion with an EPS of 10 cents.
Telefonica is eyeing the $8.03 support line.
Telefonica disclosed a quarterly dividend of 9.5 cents per share on Friday, February 17th that was paid on Tuesday, October 25th to all shareholders of record up until Monday, April 17th. Based on current prices, the company's decision thereby provides Telefonica investors with an annual dividend yield of 4.67%.
Zoom | Price Target: $67 approx 26 cents away; Current Price: $67.27 Session Low: $67.05 Session High: $68.43 | Off Hours: $67.05
Zoom is trending down and heading towards $67, which is only 26 cents away now. Hitting this support line might signal a change of direction.
Zoom is on a 3 day downtrend a slight improvement can be seen from today's session: without a clear direction, Zoom closed at $67.27 while ranging between $67.05 and $68.43. Today's trading volume was 2.42 million shares which is slightly below the 21-day average of 3.16 million.
