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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 $21.65, marking a -1.46% move from the previous day. This change lagged the S&P 500's 0.38% loss on the day. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 10.47%.
Coming into today, shares of the company had gained 2.62% in the past month. In that same time, the Consumer Discretionary sector gained 2.53%, while the S&P 500 gained 2.61%.
Paramount Global-B will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. On that day, Paramount Global-B is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 80%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.42 billion, up 1.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.86 per share and revenue of $30.85 billion, which would represent changes of -49.71% and +2.32%, respectively, from the prior 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.9% lower. Paramount Global-B is currently a Zacks Rank #5 (Strong Sell).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 25.55. For comparison, its industry has an average Forward P/E of 25.55, which means Paramount Global-B is trading at a no noticeable deviation to the group.
Also, we should mention that PARA has a PEG ratio of 2.92. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Media Conglomerates industry currently had an average PEG ratio of 2.06 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% 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
In the latest trading session, Paramount Global-B (PARA - Free Report) closed at $21.65, marking a -1.46% move from the previous day. This change lagged the S&P 500's 0.38% loss on the day. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 10.47%.
Coming into today, shares of the company had gained 2.62% in the past month. In that same time, the Consumer Discretionary sector gained 2.53%, while the S&P 500 gained 2.61%.
Paramount Global-B will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. On that day, Paramount Global-B is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 80%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.42 billion, up 1.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.86 per share and revenue of $30.85 billion, which would represent changes of -49.71% and +2.32%, respectively, from the prior 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.9% lower. Paramount Global-B is currently a Zacks Rank #5 (Strong Sell).
Digging into valuation, Paramount Global-B currently has a Forward P/E ratio of 25.55. For comparison, its industry has an average Forward P/E of 25.55, which means Paramount Global-B is trading at a no noticeable deviation to the group.
Also, we should mention that PARA has a PEG ratio of 2.92. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Media Conglomerates industry currently had an average PEG ratio of 2.06 as of yesterday's close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% 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.