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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 $20.83, marking a -1.56% move from the previous day. This change lagged the S&P 500's 0.07% loss on the day. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.
Prior to today's trading, shares of the company had gained 27.01% over the past month. This has outpaced the Consumer Discretionary sector's gain of 13.63% and the S&P 500's gain of 4.64% 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 February 16, 2023. The company is expected to report EPS of $0.20, down 23.08% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.08 billion, up 1.05% from the year-ago period.
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. 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. 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 3.71% lower within the past month. Paramount Global-B is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 18.4. For comparison, its industry has an average Forward P/E of 22.52, which means Paramount Global-B is trading at a discount to the group.
We can also see that PARA currently has a PEG ratio of 1.31. 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. PARA's industry had an average PEG ratio of 1.31 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $20.83, marking a -1.56% move from the previous day. This change lagged the S&P 500's 0.07% loss on the day. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.
Prior to today's trading, shares of the company had gained 27.01% over the past month. This has outpaced the Consumer Discretionary sector's gain of 13.63% and the S&P 500's gain of 4.64% 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 February 16, 2023. The company is expected to report EPS of $0.20, down 23.08% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.08 billion, up 1.05% from the year-ago period.
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. 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. 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 3.71% lower within the past month. Paramount Global-B is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 18.4. For comparison, its industry has an average Forward P/E of 22.52, which means Paramount Global-B is trading at a discount to the group.
We can also see that PARA currently has a PEG ratio of 1.31. 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. PARA's industry had an average PEG ratio of 1.31 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.