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) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $19.59, marking a +1.56% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.14%. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.04%.
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. In that report, analysts expect Paramount Global-B to post earnings of $0.41 per share. This would mark 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.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $2.14 per share and revenue of $30.62 billion. These results would represent year-over-year changes of -38.51% and +7.11%, 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Paramount Global-B is currently a Zacks Rank #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 9.02. Its industry sports an average Forward P/E of 18.77, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Also, we should mention that PARA has a PEG ratio of 1.11. 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 0.96 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% 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.
To follow PARA in the coming trading sessions, be sure to utilize 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $19.59, marking a +1.56% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.14%. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq gained 0.04%.
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. In that report, analysts expect Paramount Global-B to post earnings of $0.41 per share. This would mark 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.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $2.14 per share and revenue of $30.62 billion. These results would represent year-over-year changes of -38.51% and +7.11%, 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Paramount Global-B is currently a Zacks Rank #3 (Hold).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 9.02. Its industry sports an average Forward P/E of 18.77, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Also, we should mention that PARA has a PEG ratio of 1.11. 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 0.96 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% 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.
To follow PARA in the coming trading sessions, be sure to utilize Zacks.com.