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Paramount Global-B (PARA) Stock Sinks As Market Gains: Here's Why
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In the latest market close, Paramount Global-B (PARA - Free Report) reached $15, with a -0.46% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.17%. Meanwhile, the Dow experienced a drop of 0.05%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Prior to today's trading, shares of the company had gained 6.43% over the past month. This has lagged the Consumer Discretionary sector's gain of 6.87% and outpaced the S&P 500's gain of 4.71% in that time.
The upcoming earnings release of Paramount Global-B will be of great interest to investors. The company's upcoming EPS is projected at -$0.04, signifying a 150% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $7.8 billion, down 4.02% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.53 per share and a revenue of $29.81 billion, representing changes of -69.01% and -1.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Paramount Global-B. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 3.05% rise in the Zacks Consensus EPS estimate. At present, Paramount Global-B boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Paramount Global-B is currently trading at a Forward P/E ratio of 28.36. This indicates a discount in contrast to its industry's Forward P/E of 32.01.
Meanwhile, PARA's PEG ratio is currently 3.78. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Media Conglomerates industry had an average PEG ratio of 2.27 as trading concluded yesterday.
The Media Conglomerates industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 182, positioning it in the bottom 28% 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.
To follow PARA in the coming trading sessions, be sure to utilize Zacks.com.
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Paramount Global-B (PARA) Stock Sinks As Market Gains: Here's Why
In the latest market close, Paramount Global-B (PARA - Free Report) reached $15, with a -0.46% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.17%. Meanwhile, the Dow experienced a drop of 0.05%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Prior to today's trading, shares of the company had gained 6.43% over the past month. This has lagged the Consumer Discretionary sector's gain of 6.87% and outpaced the S&P 500's gain of 4.71% in that time.
The upcoming earnings release of Paramount Global-B will be of great interest to investors. The company's upcoming EPS is projected at -$0.04, signifying a 150% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $7.8 billion, down 4.02% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.53 per share and a revenue of $29.81 billion, representing changes of -69.01% and -1.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Paramount Global-B. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 3.05% rise in the Zacks Consensus EPS estimate. At present, Paramount Global-B boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Paramount Global-B is currently trading at a Forward P/E ratio of 28.36. This indicates a discount in contrast to its industry's Forward P/E of 32.01.
Meanwhile, PARA's PEG ratio is currently 3.78. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Media Conglomerates industry had an average PEG ratio of 2.27 as trading concluded yesterday.
The Media Conglomerates industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 182, positioning it in the bottom 28% 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.
To follow PARA in the coming trading sessions, be sure to utilize Zacks.com.