Paramount Resources (PRMRF) Projected to Announce Earnings on Tuesday

Paramount Resources (OTCMKTS:PRMRF) is expected to be announcing its results before the market opens on Tuesday, November 3rd. Analysts expect the company to post earnings of $0.2574 per share and revenue of $165.04 million for the quarter.

Paramount Resources (OTCMKTS:PRMRF) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $183.53 million for the quarter, compared to analysts’ expectations of $151.36 million. Paramount Resources had a net margin of 12.52% and a return on equity of 4.31%. On average, analysts expect Paramount Resources to post $1.28 EPS for the current fiscal year and $1.15 EPS for the next fiscal year.

Paramount Resources Trading Up 2.6%

Shares of OTCMKTS PRMRF opened at $24.92 on Tuesday. The company has a fifty day moving average price of $22.75 and a 200 day moving average price of $21.00. The firm has a market cap of $3.64 billion, a PE ratio of 43.72 and a beta of 0.87. Paramount Resources has a 1-year low of $15.43 and a 1-year high of $24.92.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRMRF. Scotiabank restated a “sector perform” rating on shares of Paramount Resources in a report on Monday, October 19th. Zacks Research downgraded Paramount Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Raymond James Financial reiterated an “outperform” rating on shares of Paramount Resources in a report on Wednesday, September 16th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Paramount Resources in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Paramount Resources has a consensus rating of “Moderate Buy”.

About Paramount Resources

Paramount Resources Ltd. is a Canadian energy company engaged in the exploration, development and production of crude oil, natural gas, condensate and natural gas liquids. The company focuses on developing petroleum and natural gas resources in western Canada.

Paramount’s operations are concentrated in Alberta, including the Grande Prairie and Kaybob areas. Its activities generally include drilling wells, developing and operating production infrastructure, and processing and marketing hydrocarbons produced from its resource properties.

Founded in 1976, Paramount Resources has grown into an established Canadian exploration and production company.