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Paramount Global-B (PARA) Gains As Market Dips: What You Should Know
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Paramount Global-B (PARA - Free Report) closed at $15.74 in the latest trading session, marking a +0.45% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the company had gained 5.03% over the past month, outpacing the Consumer Discretionary sector's gain of 2.03% and the S&P 500's gain of 4.86% in that time.
Investors will be hoping for strength from Paramount Global-B as it approaches its next earnings release. On that day, Paramount Global-B is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 98.44%. Meanwhile, our latest consensus estimate is calling for revenue of $7.43 billion, down 4.53% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.63 per share and revenue of $30.71 billion, which would represent changes of -63.16% and +1.84%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Paramount Global-B. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 7.39% lower. Paramount Global-B currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Paramount Global-B has a Forward P/E ratio of 25 right now. Its industry sports an average Forward P/E of 23.41, so we one might conclude that Paramount Global-B is trading at a premium comparatively.
Investors should also note that PARA has a PEG ratio of 4.38 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 1.82 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Paramount Global-B (PARA) Gains As Market Dips: What You Should Know
Paramount Global-B (PARA - Free Report) closed at $15.74 in the latest trading session, marking a +0.45% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the company had gained 5.03% over the past month, outpacing the Consumer Discretionary sector's gain of 2.03% and the S&P 500's gain of 4.86% in that time.
Investors will be hoping for strength from Paramount Global-B as it approaches its next earnings release. On that day, Paramount Global-B is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 98.44%. Meanwhile, our latest consensus estimate is calling for revenue of $7.43 billion, down 4.53% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.63 per share and revenue of $30.71 billion, which would represent changes of -63.16% and +1.84%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Paramount Global-B. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 7.39% lower. Paramount Global-B currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Paramount Global-B has a Forward P/E ratio of 25 right now. Its industry sports an average Forward P/E of 23.41, so we one might conclude that Paramount Global-B is trading at a premium comparatively.
Investors should also note that PARA has a PEG ratio of 4.38 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 1.82 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.