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Paramount Global-B (PARA) Dips More Than Broader Markets: What You Should Know
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Paramount Global-B (PARA - Free Report) closed at $19.40 in the latest trading session, marking a -1.32% move from the prior day. This change lagged the S&P 500's 0.21% loss on the day. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq added 0.03%.
Coming into today, shares of the company had lost 19.23% in the past month. In that same time, the Consumer Discretionary sector lost 12.76%, while the S&P 500 lost 9.7%.
Paramount Global-B will be looking to display strength as it nears its next earnings release. On that day, Paramount Global-B is projected to report earnings of $0.41 per share, which would represent a year-over-year decline of 46.05%. Our most recent consensus estimate is calling for quarterly revenue of $7.11 billion, up 7.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.14 per share and revenue of $30.62 billion. These totals would mark changes of -38.51% and +7.11%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Paramount Global-B. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. Paramount Global-B is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 9.2. Its industry sports an average Forward P/E of 20.96, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Meanwhile, PARA's PEG ratio is currently 1.13. 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. PARA's industry had an average PEG ratio of 1.13 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Paramount Global-B (PARA) Dips More Than Broader Markets: What You Should Know
Paramount Global-B (PARA - Free Report) closed at $19.40 in the latest trading session, marking a -1.32% move from the prior day. This change lagged the S&P 500's 0.21% loss on the day. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq added 0.03%.
Coming into today, shares of the company had lost 19.23% in the past month. In that same time, the Consumer Discretionary sector lost 12.76%, while the S&P 500 lost 9.7%.
Paramount Global-B will be looking to display strength as it nears its next earnings release. On that day, Paramount Global-B is projected to report earnings of $0.41 per share, which would represent a year-over-year decline of 46.05%. Our most recent consensus estimate is calling for quarterly revenue of $7.11 billion, up 7.61% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.14 per share and revenue of $30.62 billion. These totals would mark changes of -38.51% and +7.11%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Paramount Global-B. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. Paramount Global-B is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 9.2. Its industry sports an average Forward P/E of 20.96, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Meanwhile, PARA's PEG ratio is currently 1.13. 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. PARA's industry had an average PEG ratio of 1.13 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.