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Paramount Global-B (PARA) Gains But Lags Market: What You Should Know
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In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $21.51, marking a +0.47% move from the previous day. This move lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 5.16%.
Prior to today's trading, shares of the company had lost 0.05% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 2.46% and lagged the S&P 500's gain of 0.27% 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%. Our most recent consensus estimate is calling for quarterly revenue of $7.42 billion, up 1.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.65 per share and revenue of $30.84 billion. These totals would mark changes of -61.99% and +2.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Paramount Global-B. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Paramount Global-B is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 32.72. This valuation marks a premium compared to its industry's average Forward P/E of 28.28.
Investors should also note that PARA has a PEG ratio of 3.74 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. The Media Conglomerates was holding an average PEG ratio of 2.33 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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) Gains But Lags Market: What You Should Know
In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $21.51, marking a +0.47% move from the previous day. This move lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq added 5.16%.
Prior to today's trading, shares of the company had lost 0.05% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 2.46% and lagged the S&P 500's gain of 0.27% 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%. Our most recent consensus estimate is calling for quarterly revenue of $7.42 billion, up 1.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.65 per share and revenue of $30.84 billion. These totals would mark changes of -61.99% and +2.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Paramount Global-B. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Paramount Global-B is holding a Zacks Rank of #4 (Sell) right now.
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 32.72. This valuation marks a premium compared to its industry's average Forward P/E of 28.28.
Investors should also note that PARA has a PEG ratio of 3.74 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. The Media Conglomerates was holding an average PEG ratio of 2.33 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 35% 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.