Paramount Resources Ltd. (TSE:POU) Stock Has Consensus Target Price of C$34.35 According to Brokerages

Key Points

• Paramount Resources has a “Moderate Buy” consensus from eight analysts, split evenly between buy and hold ratings, with an average 12-month price target of C$34.35.
• Several brokerages recently raised their price targets to C$36–C$37, while maintaining either outperform or sector-perform ratings.
• The company reported quarterly earnings of C$0.47 per share on C$317.9 million in revenue and announced a monthly dividend of C$0.05 per share, equivalent to a 1.8% annual yield.

Shares of Paramount Resources Ltd. (TSE:POU - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$34.35.

A number of analysts recently commented on POU shares. BMO Capital Markets boosted their target price on Paramount Resources from C$35.00 to C$37.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Scotiabank raised Paramount Resources to a "hold" rating in a research note on Friday, June 26th. Scotia upped their price target on Paramount Resources from C$34.00 to C$36.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. ATB Cormark Capital Markets increased their price target on Paramount Resources from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada raised their price objective on Paramount Resources from C$35.00 to C$37.00 and gave the company a "sector perform" rating in a research note on Friday, August 7th.

Paramount Resources Trading Down 0.2%

POU opened at C$33.33 on Thursday. Paramount Resources has a 1-year low of C$21.69 and a 1-year high of C$33.80. The company has a current ratio of 1.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.90. The company has a market cap of C$4.86 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 0.14 and a beta of -0.16. The company has a fifty day moving average price of C$31.46 and a two-hundred day moving average price of C$30.02.

Paramount Resources (TSE:POU - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.47 earnings per share for the quarter. The firm had revenue of C$317.90 million for the quarter. Paramount Resources had a net margin of 11.19% and a return on equity of 4.30%. Analysts predict that Paramount Resources will post 1.41 EPS for the current fiscal year.

Paramount Resources Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 30th will be given a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 15th. Paramount Resources's dividend payout ratio is presently 76.92%.

Paramount Resources Company Profile

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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