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Paramount Global-B (PARA) Suffers a Larger Drop Than the General Market: Key Insights
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Paramount Global-B (PARA - Free Report) closed the most recent trading day at $13.80, moving -1.15% from the previous trading session. This move lagged the S&P 500's daily loss of 0.07%. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.36%.
The company's stock has dropped by 7.85% in the past month, falling short of the Consumer Discretionary sector's gain of 1.63% and the S&P 500's gain of 3.05%.
The investment community will be paying close attention to the earnings performance of Paramount Global-B in its upcoming release. The company is slated to reveal its earnings on February 28, 2024. The company is predicted to post an EPS of -$0.04, indicating a 150% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $7.8 billion, showing a 4.01% drop compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Paramount Global-B. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.81% decrease. Paramount Global-B is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 13.45. This represents a discount compared to its industry's average Forward P/E of 18.29.
One should further note that PARA currently holds a PEG ratio of 1.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Media Conglomerates industry was having an average PEG ratio of 1.79.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 111, this industry ranks in the top 45% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Suffers a Larger Drop Than the General Market: Key Insights
Paramount Global-B (PARA - Free Report) closed the most recent trading day at $13.80, moving -1.15% from the previous trading session. This move lagged the S&P 500's daily loss of 0.07%. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.36%.
The company's stock has dropped by 7.85% in the past month, falling short of the Consumer Discretionary sector's gain of 1.63% and the S&P 500's gain of 3.05%.
The investment community will be paying close attention to the earnings performance of Paramount Global-B in its upcoming release. The company is slated to reveal its earnings on February 28, 2024. The company is predicted to post an EPS of -$0.04, indicating a 150% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $7.8 billion, showing a 4.01% drop compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Paramount Global-B. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.81% decrease. Paramount Global-B is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 13.45. This represents a discount compared to its industry's average Forward P/E of 18.29.
One should further note that PARA currently holds a PEG ratio of 1.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Media Conglomerates industry was having an average PEG ratio of 1.79.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 111, this industry ranks in the top 45% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.