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) Stock Moves -0.42%: What You Should Know
Read MoreHide Full Article
The latest trading session saw Paramount Global-B (PARA - Free Report) ending at $11.95, denoting a -0.42% adjustment from its last day's close. This change was narrower than the S&P 500's 0.6% loss on the day. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq lost 0.92%.
The company's stock has dropped by 12.73% in the past month, falling short of the Consumer Discretionary sector's gain of 3.27% and the S&P 500's gain of 3.56%.
The investment community will be paying close attention to the earnings performance of Paramount Global-B in its upcoming release. The company is slated to reveal its earnings on February 28, 2024. On that day, Paramount Global-B is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 162.5%. At the same time, our most recent consensus estimate is projecting a revenue of $7.78 billion, reflecting a 4.27% fall from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Paramount Global-B. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.47% lower within the past month. Right now, Paramount Global-B possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Paramount Global-B is presently trading at a Forward P/E ratio of 11.28. This indicates a discount in contrast to its industry's Forward P/E of 16.71.
It is also worth noting that PARA currently has a PEG ratio of 1.5. 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. As the market closed yesterday, the Media Conglomerates industry was having an average PEG ratio of 1.75.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Paramount Global-B (PARA) Stock Moves -0.42%: What You Should Know
The latest trading session saw Paramount Global-B (PARA - Free Report) ending at $11.95, denoting a -0.42% adjustment from its last day's close. This change was narrower than the S&P 500's 0.6% loss on the day. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq lost 0.92%.
The company's stock has dropped by 12.73% in the past month, falling short of the Consumer Discretionary sector's gain of 3.27% and the S&P 500's gain of 3.56%.
The investment community will be paying close attention to the earnings performance of Paramount Global-B in its upcoming release. The company is slated to reveal its earnings on February 28, 2024. On that day, Paramount Global-B is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 162.5%. At the same time, our most recent consensus estimate is projecting a revenue of $7.78 billion, reflecting a 4.27% fall from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Paramount Global-B. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.47% lower within the past month. Right now, Paramount Global-B possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Paramount Global-B is presently trading at a Forward P/E ratio of 11.28. This indicates a discount in contrast to its industry's Forward P/E of 16.71.
It is also worth noting that PARA currently has a PEG ratio of 1.5. 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. As the market closed yesterday, the Media Conglomerates industry was having an average PEG ratio of 1.75.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.