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Paramount Global-B (PARA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $19.34, marking a -1.68% move from the previous day. This change lagged the S&P 500's daily loss of 0.74%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.15%.
Heading into today, shares of the company had gained 1.39% over the past month, lagging the Consumer Discretionary sector's gain of 4.23% and the S&P 500's gain of 4.58% in that time.
Paramount Global-B will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. On that day, Paramount Global-B is projected to report earnings of $0.44 per share, which would represent a year-over-year decline of 42.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.09 billion, up 7.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.15 per share and revenue of $30.57 billion. These totals would mark changes of -38.22% and +6.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Paramount Global-B. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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 0.35% higher. Paramount Global-B is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 9.17. For comparison, its industry has an average Forward P/E of 20.35, which means Paramount Global-B is trading at a discount to the group.
It is also worth noting that PARA currently has a PEG ratio of 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. Media Conglomerates stocks are, on average, holding a PEG ratio of 1.03 based on yesterday's closing prices.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Paramount Global-B (PARA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $19.34, marking a -1.68% move from the previous day. This change lagged the S&P 500's daily loss of 0.74%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.15%.
Heading into today, shares of the company had gained 1.39% over the past month, lagging the Consumer Discretionary sector's gain of 4.23% and the S&P 500's gain of 4.58% in that time.
Paramount Global-B will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. On that day, Paramount Global-B is projected to report earnings of $0.44 per share, which would represent a year-over-year decline of 42.11%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.09 billion, up 7.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.15 per share and revenue of $30.57 billion. These totals would mark changes of -38.22% and +6.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Paramount Global-B. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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 0.35% higher. Paramount Global-B is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 9.17. For comparison, its industry has an average Forward P/E of 20.35, which means Paramount Global-B is trading at a discount to the group.
It is also worth noting that PARA currently has a PEG ratio of 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. Media Conglomerates stocks are, on average, holding a PEG ratio of 1.03 based on yesterday's closing prices.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.