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Paramount Global-B (PARA) Outpaces Stock Market Gains: What You Should Know
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Paramount Global-B (PARA - Free Report) closed at $19.89 in the latest trading session, marking a +1.74% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.7%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 7.5%.
Coming into today, shares of the company had lost 0.61% in the past month. In that same time, the Consumer Discretionary sector gained 2.83%, while the S&P 500 lost 0.94%.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. The company is expected to report EPS of $0.25, down 3.85% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.1 billion, up 1.27% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Paramount Global-B. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.68% lower. Paramount Global-B is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that Paramount Global-B has a Forward P/E ratio of 16.37 right now. This represents a discount compared to its industry's average Forward P/E of 19.91.
It is also worth noting that PARA currently has a PEG ratio of 1.17. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Media Conglomerates stocks are, on average, holding a PEG ratio of 1.17 based on yesterday's closing prices.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Paramount Global-B (PARA) Outpaces Stock Market Gains: What You Should Know
Paramount Global-B (PARA - Free Report) closed at $19.89 in the latest trading session, marking a +1.74% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.7%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 7.5%.
Coming into today, shares of the company had lost 0.61% in the past month. In that same time, the Consumer Discretionary sector gained 2.83%, while the S&P 500 lost 0.94%.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. The company is expected to report EPS of $0.25, down 3.85% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $8.1 billion, up 1.27% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Paramount Global-B. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.68% lower. Paramount Global-B is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that Paramount Global-B has a Forward P/E ratio of 16.37 right now. This represents a discount compared to its industry's average Forward P/E of 19.91.
It is also worth noting that PARA currently has a PEG ratio of 1.17. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Media Conglomerates stocks are, on average, holding a PEG ratio of 1.17 based on yesterday's closing prices.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.