We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Paramount Global-B (PARA) Stock Moves -0.55%: What You Should Know
Read MoreHide Full Article
The latest trading session saw Paramount Global-B (PARA - Free Report) ending at $10.90, denoting a -0.55% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 1.2% for the day. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, lost 1.79%.
The company's stock has dropped by 2.23% in the past month, exceeding the Consumer Discretionary sector's loss of 4.46% and lagging the S&P 500's loss of 0.85%.
Analysts and investors alike will be keeping a close eye on the performance of Paramount Global-B in its upcoming earnings disclosure. The company's earnings report is set to go public on April 29, 2024. The company's earnings per share (EPS) are projected to be $0.31, reflecting a 244.44% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.75 billion, up 6.61% from the prior-year quarter.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $1.17 per share and revenue of $30.84 billion. These results would represent year-over-year changes of +125% and +4.02%, respectively.
Investors might also notice recent changes to analyst estimates for Paramount Global-B. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.03% lower within the past month. As of now, Paramount Global-B holds a Zacks Rank of #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 9.34. This indicates a discount in contrast to its industry's Forward P/E of 16.96.
It's also important to note that PARA currently trades at a PEG ratio of 0.41. 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 of the close of trade yesterday, the Media Conglomerates industry held an average PEG ratio of 1.83.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Paramount Global-B (PARA) Stock Moves -0.55%: What You Should Know
The latest trading session saw Paramount Global-B (PARA - Free Report) ending at $10.90, denoting a -0.55% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 1.2% for the day. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, lost 1.79%.
The company's stock has dropped by 2.23% in the past month, exceeding the Consumer Discretionary sector's loss of 4.46% and lagging the S&P 500's loss of 0.85%.
Analysts and investors alike will be keeping a close eye on the performance of Paramount Global-B in its upcoming earnings disclosure. The company's earnings report is set to go public on April 29, 2024. The company's earnings per share (EPS) are projected to be $0.31, reflecting a 244.44% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $7.75 billion, up 6.61% from the prior-year quarter.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $1.17 per share and revenue of $30.84 billion. These results would represent year-over-year changes of +125% and +4.02%, respectively.
Investors might also notice recent changes to analyst estimates for Paramount Global-B. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.03% lower within the past month. As of now, Paramount Global-B holds a Zacks Rank of #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 9.34. This indicates a discount in contrast to its industry's Forward P/E of 16.96.
It's also important to note that PARA currently trades at a PEG ratio of 0.41. 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 of the close of trade yesterday, the Media Conglomerates industry held an average PEG ratio of 1.83.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 93, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.