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Paramount Global-B (PARA) Outpaces Stock Market Gains: What You Should Know
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Paramount Global-B (PARA - Free Report) closed the most recent trading day at $24.56, moving +1.28% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.26%.
Heading into today, shares of the company had lost 24.74% over the past month, lagging the Consumer Discretionary sector's loss of 9.41% and the S&P 500's loss of 8.32% in that time.
Paramount Global-B will be looking to display strength as it nears its next earnings release. In that report, analysts expect Paramount Global-B to post earnings of $0.54 per share. This would mark a year-over-year decline of 44.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.34 billion, up 11.79% from the year-ago period.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $2.65 per share and revenue of $30.67 billion. These results would represent year-over-year changes of -23.85% and +7.3%, respectively.
It is also important to note the recent changes to analyst estimates for Paramount Global-B. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Paramount Global-B currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Paramount Global-B is currently trading at a Forward P/E ratio of 9.15. Its industry sports an average Forward P/E of 20.61, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Investors should also note that PARA has a PEG ratio of 1.12 right now. 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 currently had an average PEG ratio of 1.28 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Paramount Global-B (PARA) Outpaces Stock Market Gains: What You Should Know
Paramount Global-B (PARA - Free Report) closed the most recent trading day at $24.56, moving +1.28% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.26%.
Heading into today, shares of the company had lost 24.74% over the past month, lagging the Consumer Discretionary sector's loss of 9.41% and the S&P 500's loss of 8.32% in that time.
Paramount Global-B will be looking to display strength as it nears its next earnings release. In that report, analysts expect Paramount Global-B to post earnings of $0.54 per share. This would mark a year-over-year decline of 44.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.34 billion, up 11.79% from the year-ago period.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $2.65 per share and revenue of $30.67 billion. These results would represent year-over-year changes of -23.85% and +7.3%, respectively.
It is also important to note the recent changes to analyst estimates for Paramount Global-B. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Paramount Global-B currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Paramount Global-B is currently trading at a Forward P/E ratio of 9.15. Its industry sports an average Forward P/E of 20.61, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Investors should also note that PARA has a PEG ratio of 1.12 right now. 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 currently had an average PEG ratio of 1.28 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 5% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.