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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 $21.59, moving -0.92% from the previous trading session. This change lagged the S&P 500's 0.22% gain on the day. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 6.33%.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. This is expected to be February 16, 2023. In that report, analysts expect Paramount Global-B to post earnings of $0.18 per share. This would mark a year-over-year decline of 30.77%. Our most recent consensus estimate is calling for quarterly revenue of $8.08 billion, up 1.04% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Paramount Global-B. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.36% lower within the past month. Paramount Global-B is currently a Zacks Rank #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 18.31. This represents a discount compared to its industry's average Forward P/E of 23.93.
We can also see that PARA currently has a PEG ratio of 1.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Media Conglomerates industry currently had an average PEG ratio of 1.35 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 200, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 $21.59, moving -0.92% from the previous trading session. This change lagged the S&P 500's 0.22% gain on the day. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 6.33%.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. This is expected to be February 16, 2023. In that report, analysts expect Paramount Global-B to post earnings of $0.18 per share. This would mark a year-over-year decline of 30.77%. Our most recent consensus estimate is calling for quarterly revenue of $8.08 billion, up 1.04% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Paramount Global-B. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.36% lower within the past month. Paramount Global-B is currently a Zacks Rank #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 18.31. This represents a discount compared to its industry's average Forward P/E of 23.93.
We can also see that PARA currently has a PEG ratio of 1.31. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Media Conglomerates industry currently had an average PEG ratio of 1.35 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 200, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.