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Paramount Global-B (PARA) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $20, marking a +1.52% move from the previous day. This move outpaced the S&P 500's daily gain of 0.89%. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq lost 0.68%.
Heading into today, shares of the company had lost 16.84% over the past month, lagging the Consumer Discretionary sector's loss of 7.98% and the S&P 500's loss of 3.9% in that time.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. On that day, Paramount Global-B is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 118.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.42 billion, up 1.22% from the year-ago period.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $0.65 per share and revenue of $30.84 billion. These results would represent year-over-year changes of -61.99% and +2.26%, respectively.
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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 43.53% lower. Paramount Global-B is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Paramount Global-B has a Forward P/E ratio of 30.11 right now. For comparison, its industry has an average Forward P/E of 26.77, which means Paramount Global-B is trading at a premium to the group.
Meanwhile, PARA's PEG ratio is currently 3.44. 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 2.29 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Paramount Global-B (PARA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $20, marking a +1.52% move from the previous day. This move outpaced the S&P 500's daily gain of 0.89%. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq lost 0.68%.
Heading into today, shares of the company had lost 16.84% over the past month, lagging the Consumer Discretionary sector's loss of 7.98% and the S&P 500's loss of 3.9% in that time.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. On that day, Paramount Global-B is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 118.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.42 billion, up 1.22% from the year-ago period.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $0.65 per share and revenue of $30.84 billion. These results would represent year-over-year changes of -61.99% and +2.26%, respectively.
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. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 43.53% lower. Paramount Global-B is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Paramount Global-B has a Forward P/E ratio of 30.11 right now. For comparison, its industry has an average Forward P/E of 26.77, which means Paramount Global-B is trading at a premium to the group.
Meanwhile, PARA's PEG ratio is currently 3.44. 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 2.29 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.