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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 $18.24 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's 0.65% loss on the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.18%.
Prior to today's trading, shares of the company had lost 23.5% over the past month. This has lagged the Consumer Discretionary sector's loss of 14.11% and the S&P 500's loss of 11.07% in that time.
Investors will be hoping for strength from Paramount Global-B as it approaches its next earnings release, which is expected to be November 2, 2022. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $7.11 billion, up 7.61% from the prior-year quarter.
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.
Any recent changes to analyst estimates for Paramount Global-B should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. Paramount Global-B is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Paramount Global-B is holding a Forward P/E ratio of 8.68. This valuation marks a discount compared to its industry's average Forward P/E of 18.6.
Also, we should mention that PARA has a PEG ratio of 1.07. 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. The Media Conglomerates was holding an average PEG ratio of 0.95 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
To follow PARA in the coming trading sessions, be sure to utilize 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 $18.24 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's 0.65% loss on the day. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq gained 0.18%.
Prior to today's trading, shares of the company had lost 23.5% over the past month. This has lagged the Consumer Discretionary sector's loss of 14.11% and the S&P 500's loss of 11.07% in that time.
Investors will be hoping for strength from Paramount Global-B as it approaches its next earnings release, which is expected to be November 2, 2022. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $7.11 billion, up 7.61% from the prior-year quarter.
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.
Any recent changes to analyst estimates for Paramount Global-B should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. Paramount Global-B is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Paramount Global-B is holding a Forward P/E ratio of 8.68. This valuation marks a discount compared to its industry's average Forward P/E of 18.6.
Also, we should mention that PARA has a PEG ratio of 1.07. 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. The Media Conglomerates was holding an average PEG ratio of 0.95 at yesterday's closing price.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
To follow PARA in the coming trading sessions, be sure to utilize Zacks.com.