Yahoo Finance Paramount Global-B (PARA) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with Paramount Global-B (PARA) standing at $12.67, reflecting a -0.55% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.02%. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.1%.
Heading into today, shares of the company had gained 12.05% over the past month, outpacing the Consumer Discretionary sector's loss of 5.39% and the S&P 500's loss of 3.01% in that time.
Investors will be eagerly watching for the performance of Paramount Global-B in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 29, 2024. The company is forecasted to report an EPS of $0.34, showcasing a 277.78% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $7.69 billion, up 5.91% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.20 per share and a revenue of $30.81 billion, signifying shifts of +130.77% and +3.92%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Paramount Global-B. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 1.17% lower within the past month. Paramount Global-B presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Paramount Global-B is at present trading with a Forward P/E ratio of 10.65. This represents a discount compared to its industry's average Forward P/E of 17.42.
Also, we should mention that PARA has a PEG ratio of 0.45. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Media Conglomerates industry had an average PEG ratio of 1.75 as trading concluded yesterday.
The Media Conglomerates industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 95, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank is ordered 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 (PARA) : Free Stock Analysis Report
