In the latest trading session, Paramount Global-B (PARA) closed at $22.73, marking a -1.39% move from the previous day. This change lagged the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.45%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Coming into today, shares of the company had lost 11.24% in the past month. In that same time, the Consumer Discretionary sector lost 9.31%, while the S&P 500 lost 9.06%.
Wall Street will be looking for positivity from Paramount Global-B as it approaches its next earnings report date. The company is expected to report EPS of $0.41, down 46.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.11 billion, up 7.61% from the prior-year quarter.
PARA's full-year Zacks Consensus Estimates are calling for earnings of $2.14 per share and revenue of $30.62 billion. These results would represent year-over-year changes of -38.51% and +7.11%, respectively.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.61% lower. Paramount Global-B is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note Paramount Global-B's current valuation metrics, including its Forward P/E ratio of 10.78. This represents a discount compared to its industry's average Forward P/E of 24.96.
Investors should also note that PARA has a PEG ratio of 1.32 right now. 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. The Media Conglomerates industry currently had an average PEG ratio of 1.32 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 48, which puts it in the top 20% 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.
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