In the latest trading session, Paramount Global-B (PARA) closed at $25.08, marking a -1.88% move from the previous day. This move lagged the S&P 500’s daily loss of 0.07%. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 0.02%.
Prior to today’s trading, shares of the company had lost 25.55% over the past month. This has lagged the Consumer Discretionary sector’s loss of 10.11% and the S&P 500’s loss of 7.99% in that time.
Investors will be hoping for strength from Paramount Global-B as it approaches its next earnings release. In that report, analysts expect Paramount Global-B to post earnings of $0.54 per share. This would mark a year-over-year decline of 44.33%. Our most recent consensus estimate is calling for quarterly revenue of $7.34 billion, up 11.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.63 per share and revenue of $30.67 billion, which would represent changes of -24.43% and +7.3%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Paramount Global-B. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 0.7% lower. Paramount Global-B is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Paramount Global-B is holding a Forward P/E ratio of 9.71. Its industry sports an average Forward P/E of 18.82, so we one might conclude that Paramount Global-B is trading at a discount comparatively.
Meanwhile, PARA’s PEG ratio is currently 1.19. 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 1.36 as of yesterday’s close.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 16% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.