Paramount Resources (PRMRF) Expected to Announce Quarterly Earnings on Wednesday

Key Points

• Paramount Resources is scheduled to report quarterly earnings on Wednesday, July 29, with analysts expecting $0.28 per share in earnings on $151.36 million in revenue.
• The company’s most recent quarter beat expectations, posting $0.26 EPS versus the $0.20 estimate and $164.34 million in revenue versus $119.34 million expected.
• Analyst sentiment remains constructive overall, with a consensus rating of “Moderate Buy” despite a recent downgrade from Zacks and mixed individual ratings.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) is expected to post its resultson Wednesday, July 29th. Analysts expect the company to post earnings of $0.28 per share and revenue of $151.36 million for the quarter.

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.26 earnings per share 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 business had revenue of $164.34 million during the quarter, compared to analyst estimates of $119.34 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 Price Performance

Shares of PRMRF stock opened at $20.61 on Wednesday. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 79.28 and a beta of 0.63. The company's fifty day simple moving average is $21.13 and its two-hundred day simple moving average is $20.21. Paramount Resources has a 1 year low of $13.24 and a 1 year high of $24.25.

Analyst Ratings Changes

PRMRF has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Paramount Resources in a research note on Friday, July 10th. Scotiabank restated a "sector perform" rating on shares of Paramount Resources in a research note on Friday. Jefferies Financial Group reaffirmed a "buy" rating on shares of Paramount Resources in a report on Tuesday, May 12th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Paramount Resources in a research report on Wednesday, May 13th. Finally, Zacks Research downgraded shares of Paramount Resources from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Paramount Resources has a consensus rating of "Moderate Buy".

Paramount Resources Company Profile

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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