Paramount Resources Ltd. (TSE:POU) Stock Has Consensus Price Target of C$35.45

Key Points

• Analyst sentiment is moderately bullish: Five of eight analysts rate Paramount Resources a buy and three recommend holding, with a consensus one-year price target of C$35.45.
• Several firms raised their price targets, including Scotiabank, which upgraded the stock to “sector outperform” and lifted its target to C$42. Shares traded at C$30.79.
• Paramount reported quarterly EPS of C($2.65) on revenue of C$257.1 million and announced a monthly dividend of C$0.05 per share, equivalent to a 1.9% yield.

Paramount Resources Ltd. (TSE:POU - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$35.45.

POU has been the topic of several research analyst reports. BMO Capital Markets raised their target price on shares of Paramount Resources from C$35.00 to C$37.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. ATB Cormark Capital Markets upped their price target on shares of Paramount Resources from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Scotiabank upgraded shares of Paramount Resources from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from C$40.00 to C$42.00 in a research note on Monday. Royal Bank Of Canada boosted their target price on Paramount Resources from C$35.00 to C$37.00 and gave the stock a "sector perform" rating in a report on Friday, August 7th. Finally, Scotia increased their price target on Paramount Resources from C$34.00 to C$36.00 and gave the company a "sector perform" rating in a research note on Friday, August 7th.

Paramount Resources Stock Performance

POU traded down C$0.50 during trading hours on Monday, hitting C$30.79. The company's stock had a trading volume of 458,172 shares, compared to its average volume of 283,041. The company has a 50-day simple moving average of C$32.18 and a 200 day simple moving average of C$29.69. The company has a current ratio of 1.30, a quick ratio of 0.68 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of C$4.49 billion, a PE ratio of -16.55, a PEG ratio of 0.14 and a beta of -0.07. Paramount Resources has a fifty-two week low of C$21.69 and a fifty-two week high of C$35.32.

Paramount Resources (TSE:POU - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported C($2.65) earnings per share (EPS) for the quarter. The business had revenue of C$257.10 million during the quarter. Paramount Resources had a negative return on equity of 10.12% and a negative net margin of 22.36%. As a group, sell-side analysts expect that Paramount Resources will post 1.41 EPS for the current year.

Paramount Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 30th will be issued a $0.05 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.9%. Paramount Resources's dividend payout ratio is -32.26%.

About Paramount Resources

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company's principal properties are located in Alberta and British Columbia. Paramount's class A common shares are listed on the Toronto Stock Exchange under the symbol "POU".

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