Scotiabank Forecasts Strong Price Appreciation for Paramount Resources (TSE:POU) Stock

Paramount Resources (TSE:POU) had its price target upped by analysts at Scotiabank from C$29.00 to C$31.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 29.27% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Raymond James Financial raised shares of Paramount Resources from a “hold” rating to a “moderate buy” rating in a research note on Thursday, January 15th. Jefferies Financial Group cut their price target on Paramount Resources from C$29.00 to C$28.00 in a research note on Tuesday. CIBC lifted their price objective on Paramount Resources from C$25.00 to C$26.00 in a research note on Wednesday, October 15th. National Bankshares upped their price objective on Paramount Resources from C$25.00 to C$27.50 and gave the company a “sector perform” rating in a report on Thursday, September 25th. Finally, Royal Bank Of Canada increased their target price on Paramount Resources from C$23.00 to C$26.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 23rd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Paramount Resources presently has a consensus rating of “Hold” and a consensus target price of C$27.21.

Paramount Resources Price Performance

Shares of POU stock opened at C$23.98 on Wednesday. The firm has a market cap of C$3.44 billion, a price-to-earnings ratio of 2.55, a PEG ratio of 0.14 and a beta of 0.29. Paramount Resources has a 12 month low of C$14.33 and a 12 month high of C$32.83. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 2.06. The stock has a 50-day moving average price of C$24.11 and a 200 day moving average price of C$22.45.

Paramount Resources (TSE:POU) last issued its earnings results on Tuesday, November 4th. The company reported C($0.02) earnings per share (EPS) for the quarter. Paramount Resources had a net margin of 18.92% and a return on equity of 10.06%. The business had revenue of C$187.30 million during the quarter. Research analysts expect that Paramount Resources will post 1.4075758 EPS for the current year.

About Paramount Resources

Paramount is an independent, publicly traded Canadian energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including longer-term strategic exploration and pre-development plays. The Company’s principal properties are located in Alberta and British Columbia. Paramount’s class A common shares are listed on the Toronto Stock Exchange under the symbol “POU”.