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The latest trading session saw Paramount Global-B (PARA - Free Report) ending at $14.68, denoting a +0.62% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.25%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 1.3%.
Shares of the company have appreciated by 2.82% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 0.91% and the S&P 500's gain of 1.58%.
The upcoming earnings release of Paramount Global-B will be of great interest to investors. The company's earnings report is expected 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. In the meantime, our current consensus estimate forecasts the revenue to be $7.8 billion, indicating a 4.06% decline compared to the corresponding quarter of 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 help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.81% lower. At present, Paramount Global-B boasts a Zacks Rank of #3 (Hold).
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 14.06. This signifies a discount in comparison to the average Forward P/E of 19.58 for its industry.
It is also worth noting that PARA currently has a PEG ratio of 1.88. 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. As the market closed yesterday, the Media Conglomerates industry was having an average PEG ratio of 1.81.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 110, this industry ranks in the top 44% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Paramount Global-B (PARA) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The latest trading session saw Paramount Global-B (PARA - Free Report) ending at $14.68, denoting a +0.62% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.25%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 1.3%.
Shares of the company have appreciated by 2.82% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 0.91% and the S&P 500's gain of 1.58%.
The upcoming earnings release of Paramount Global-B will be of great interest to investors. The company's earnings report is expected 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. In the meantime, our current consensus estimate forecasts the revenue to be $7.8 billion, indicating a 4.06% decline compared to the corresponding quarter of 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 help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.81% lower. At present, Paramount Global-B boasts a Zacks Rank of #3 (Hold).
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 14.06. This signifies a discount in comparison to the average Forward P/E of 19.58 for its industry.
It is also worth noting that PARA currently has a PEG ratio of 1.88. 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. As the market closed yesterday, the Media Conglomerates industry was having an average PEG ratio of 1.81.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 110, this industry ranks in the top 44% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.