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Paramount Global-B (PARA) Stock Sinks As Market Gains: What You Should Know
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Paramount Global-B (PARA - Free Report) closed the most recent trading day at $19.09, moving -0.68% from the previous trading session. This move lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had lost 4.71% over the past month, lagging the Consumer Discretionary sector's loss of 2.57% and the S&P 500's loss of 0.84% in that time.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. This is expected to be November 2, 2022. In that report, analysts expect Paramount Global-B to post earnings of $0.44 per share. This would mark a year-over-year decline of 42.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.09 billion, up 7.22% from the year-ago period.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $2.15 per share and revenue of $30.57 billion. These results would represent year-over-year changes of -38.22% and +6.95%, respectively.
Investors might also notice recent changes to analyst estimates for Paramount Global-B. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. Paramount Global-B is currently a Zacks Rank #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 8.96. Its industry sports an average Forward P/E of 19.53, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Investors should also note that PARA has a PEG ratio of 1.1 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PARA's industry had an average PEG ratio of 1.01 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PARA in the coming trading sessions, be sure to utilize Zacks.com.
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Paramount Global-B (PARA) Stock Sinks As Market Gains: What You Should Know
Paramount Global-B (PARA - Free Report) closed the most recent trading day at $19.09, moving -0.68% from the previous trading session. This move lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had lost 4.71% over the past month, lagging the Consumer Discretionary sector's loss of 2.57% and the S&P 500's loss of 0.84% in that time.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. This is expected to be November 2, 2022. In that report, analysts expect Paramount Global-B to post earnings of $0.44 per share. This would mark a year-over-year decline of 42.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.09 billion, up 7.22% from the year-ago period.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $2.15 per share and revenue of $30.57 billion. These results would represent year-over-year changes of -38.22% and +6.95%, respectively.
Investors might also notice recent changes to analyst estimates for Paramount Global-B. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. Paramount Global-B is currently a Zacks Rank #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 8.96. Its industry sports an average Forward P/E of 19.53, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Investors should also note that PARA has a PEG ratio of 1.1 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. PARA's industry had an average PEG ratio of 1.01 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PARA in the coming trading sessions, be sure to utilize Zacks.com.