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Paramount Global-B (PARA) Gains But Lags Market: What You Should Know
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Paramount Global-B (PARA - Free Report) closed at $19.65 in the latest trading session, marking a +1.29% move from the prior day. This move lagged the S&P 500's daily gain of 1.68%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq lost 1.7%.
Coming into today, shares of the company had lost 13.04% in the past month. In that same time, the Consumer Discretionary sector lost 8.84%, while the S&P 500 lost 6.68%.
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 -$0.11, down 118.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.42 billion, up 1.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.65 per share and revenue of $30.84 billion, which would represent changes of -61.99% and +2.26%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Paramount Global-B. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 43.53% lower. Paramount Global-B is currently a Zacks Rank #3 (Hold).
In terms of valuation, Paramount Global-B is currently trading at a Forward P/E ratio of 29.65. This represents a premium compared to its industry's average Forward P/E of 26.46.
We can also see that PARA currently has a PEG ratio of 3.38. 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 was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Paramount Global-B (PARA) Gains But Lags Market: What You Should Know
Paramount Global-B (PARA - Free Report) closed at $19.65 in the latest trading session, marking a +1.29% move from the prior day. This move lagged the S&P 500's daily gain of 1.68%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq lost 1.7%.
Coming into today, shares of the company had lost 13.04% in the past month. In that same time, the Consumer Discretionary sector lost 8.84%, while the S&P 500 lost 6.68%.
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 -$0.11, down 118.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.42 billion, up 1.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.65 per share and revenue of $30.84 billion, which would represent changes of -61.99% and +2.26%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Paramount Global-B. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 43.53% lower. Paramount Global-B is currently a Zacks Rank #3 (Hold).
In terms of valuation, Paramount Global-B is currently trading at a Forward P/E ratio of 29.65. This represents a premium compared to its industry's average Forward P/E of 26.46.
We can also see that PARA currently has a PEG ratio of 3.38. 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 was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.