Paramount Resources (OTCMKTS:PRMRF) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Paramount Resources from “strong-buy” to “hold”, even though other analysts remain more constructive overall.
• The stock’s broader analyst consensus is still “Moderate Buy”, with one Strong Buy, four Buy, and four Hold ratings currently on record.
• Paramount Resources recently beat quarterly estimates, reporting EPS of $0.26 versus $0.20 expected and revenue of $164.34 million versus $119.34 million expected.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the company. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Paramount Resources in a research report on Friday. Scotiabank upgraded Paramount Resources to a "hold" rating in a research note on Friday, June 26th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Paramount Resources in a report on Wednesday, May 13th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Paramount Resources in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Paramount Resources Price Performance

PRMRF opened at $20.50 on Monday. The company has a market capitalization of $2.99 billion, a P/E ratio of 78.85 and a beta of 0.63. The firm's fifty day moving average price is $21.26 and its two-hundred day moving average price is $20.12. Paramount Resources has a fifty-two week low of $13.24 and a fifty-two week high of $24.25.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. Paramount Resources had a net margin of 6.65% and a return on equity of 1.98%. The company had revenue of $164.34 million during the quarter, compared to analysts' expectations of $119.34 million. On average, equities research analysts expect that Paramount Resources will post 1.06 EPS for the current fiscal year.

About Paramount Resources

Paramount Resources Ltd. is a Calgary, Alberta–based energy company engaged in the exploration, development and production of conventional and unconventional oil and natural gas resources. The company's operations span acquisition of acreage, drilling and completion activities, reservoir optimization and production marketing, with a focus on upstream activities. Paramount also holds a portfolio of royalty interests that generate recurring cash flows from production by third parties.

Paramount's core operating regions are located within the Western Canadian Sedimentary Basin, primarily in Alberta and northeastern British Columbia.

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