Paramount Resources (PRMRF) Expected to Announce Earnings on Tuesday

Key Points

• Paramount is expected to report results before the market opens on Tuesday, May 12, with analysts projecting EPS of $0.1974 and revenue of $119.34 million; firms forecast roughly $1 EPS for the current and next fiscal year.
• In the prior quarter the company missed EPS estimates (reported -$0.01 vs. consensus $0.16) but beat revenue expectations ($144.55M vs. $137.63M), showing mixed results.
• The stock traded at $22.90 (near its 52-week high of $22.97), has a $3.32 billion market cap and a PE of 3.76, and carries a consensus analyst rating of "Moderate Buy" (1 Strong Buy, 4 Buy, 3 Hold).

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) is expected to release its results before the market opens on Tuesday, May 12th. Analysts expect Paramount Resources to post earnings of $0.1974 per share and revenue of $119.3410 million for the quarter.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.17). Paramount Resources had a net margin of 149.02% and a return on equity of 1.53%. The business had revenue of $144.55 million for the quarter, compared to analysts' expectations of $137.63 million. On average, analysts expect Paramount Resources to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Paramount Resources Stock Up 0.3%

OTCMKTS:PRMRF traded up $0.06 on Tuesday, hitting $22.90. 9,406 shares of the company's stock traded hands, compared to its average volume of 16,235. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.10. Paramount Resources has a 1 year low of $11.36 and a 1 year high of $22.97. The firm has a 50-day moving average price of $20.77 and a 200-day moving average price of $18.58. The company has a market cap of $3.32 billion, a PE ratio of 3.76 and a beta of 0.64.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRMRF. Scotiabank reaffirmed an "outperform" rating on shares of Paramount Resources in a research note on Wednesday, January 21st. Roth Mkm raised Paramount Resources to a "strong-buy" rating in a research note on Wednesday, March 4th. Zacks Research raised Paramount Resources to a "hold" rating in a research note on Thursday, March 5th. ATB Cormark Capital Markets cut Paramount Resources from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, March 3rd. Finally, Raymond James Financial upgraded Paramount Resources from a "hold" rating to a "moderate buy" rating in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

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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