Cormark Weighs in on Paramount Resources, Ltd.’s Q3 2017 Earnings (POU)
Paramount Resources, Ltd. (TSE:POU) – Equities researchers at Cormark decreased their Q3 2017 earnings estimates for shares of Paramount Resources in a research report issued to clients and investors on Tuesday. Cormark analyst A. Arif now anticipates that the company will earn ($0.65) per share for the quarter, down from their previous forecast of ($0.53). Cormark also issued estimates for Paramount Resources’ Q4 2017 earnings at ($1.10) EPS, FY2017 earnings at ($1.58) EPS, Q1 2018 earnings at ($0.82) EPS, Q2 2018 earnings at ($0.81) EPS, Q3 2018 earnings at ($0.88) EPS, Q4 2018 earnings at ($0.82) EPS, FY2018 earnings at ($3.33) EPS and FY2019 earnings at ($3.51) EPS.
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Other equities research analysts also recently issued research reports about the company. Scotiabank downgraded Paramount Resources from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$26.00 to C$24.50 in a report on Monday, July 10th. BMO Capital Markets raised their price target on Paramount Resources from C$22.00 to C$25.00 and gave the company an “outperform” rating in a report on Monday, June 12th. Raymond James Financial, Inc. raised their price target on Paramount Resources from C$26.00 to C$31.00 and gave the company a “strong-buy” rating in a report on Monday, September 18th. TD Securities raised their price target on Paramount Resources from C$17.50 to C$19.50 and gave the company a “hold” rating in a report on Tuesday, July 11th. Finally, Laurentian Bank of Canada raised their price target on Paramount Resources from C$29.00 to C$30.00 in a report on Friday, July 7th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Paramount Resources has an average rating of “Buy” and an average target price of C$23.42.
Paramount Resources (TSE POU) opened at 23.76 on Thursday. The company’s 50-day moving average is $22.60 and its 200 day moving average is $19.96. The firm has a market capitalization of $2.52 billion and a PE ratio of 1.94. Paramount Resources has a 1-year low of $12.60 and a 1-year high of $25.57.
In other news, insider Clayton H. Riddell bought 3,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was bought at an average price of C$24.85 per share, with a total value of C$74,550.00. Also, insider Clayton H. Riddell bought 100,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were purchased at an average cost of C$24.45 per share, with a total value of C$2,445,000.00. In the last three months, insiders have bought 196,500 shares of company stock valued at $4,771,335 and have sold 56,400 shares valued at $976,344.
About Paramount Resources
Paramount Resources Ltd. is an energy company. The Company explores and develops unconventional and conventional petroleum and natural gas prospects, including long-term unconventional exploration and pre-development projects, and holds a portfolio of investments in other entities. The Company’s segments include Principal Properties, Strategic Investments and Corporate.
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