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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 $16.47 in the latest trading session, marking a +1.98% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.79%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 2.71%.
Coming into today, shares of the company had lost 1.52% in the past month. In that same time, the Consumer Discretionary sector gained 1.29%, while the S&P 500 gained 4.16%.
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, down 100% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.48 billion, down 3.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.63 per share and revenue of $30.83 billion, which would represent changes of -63.16% and +2.24%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.27% lower within the past month. Paramount Global-B is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 25.77. This represents a premium compared to its industry's average Forward P/E of 23.65.
It is also worth noting that PARA currently has a PEG ratio of 4.51. 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 industry currently had an average PEG ratio of 1.84 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% 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 As Market Dips: What You Should Know
Paramount Global-B (PARA - Free Report) closed at $16.47 in the latest trading session, marking a +1.98% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.79%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 2.71%.
Coming into today, shares of the company had lost 1.52% in the past month. In that same time, the Consumer Discretionary sector gained 1.29%, while the S&P 500 gained 4.16%.
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, down 100% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.48 billion, down 3.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.63 per share and revenue of $30.83 billion, which would represent changes of -63.16% and +2.24%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.27% lower within the past month. Paramount Global-B is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 25.77. This represents a premium compared to its industry's average Forward P/E of 23.65.
It is also worth noting that PARA currently has a PEG ratio of 4.51. 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 industry currently had an average PEG ratio of 1.84 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% 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.