Paramount Resources Ltd (TSE:POU) Given Consensus Recommendation of “Hold” by Brokerages

Paramount Resources Ltd (TSE:POU) has been assigned a consensus recommendation of “Hold” from the ten research firms that are covering the firm, reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$9.78.

Several brokerages have weighed in on POU. Laurentian cut their price target on Paramount Resources from C$15.00 to C$14.00 in a report on Wednesday, July 24th. Royal Bank of Canada cut their price target on Paramount Resources from C$10.00 to C$9.00 in a report on Thursday, July 18th. Raymond James reiterated a “strong-buy” rating and issued a C$17.50 price objective on shares of Paramount Resources in a report on Tuesday, July 2nd. National Bank Financial increased their price objective on Paramount Resources from C$7.25 to C$8.50 and gave the company a “sector perform” rating in a report on Tuesday, July 2nd. Finally, CSFB reiterated an “underperform” rating and issued a C$7.00 price objective on shares of Paramount Resources in a report on Tuesday, July 16th.

POU traded down C$0.01 during mid-day trading on Friday, hitting C$7.41. 164,845 shares of the stock were exchanged, compared to its average volume of 377,394. The firm’s fifty day moving average is C$6.38 and its two-hundred day moving average is C$7.33. Paramount Resources has a 1-year low of C$5.26 and a 1-year high of C$15.84. The company has a current ratio of 1.32, a quick ratio of 0.49 and a debt-to-equity ratio of 47.25. The company has a market cap of $995.68 million and a PE ratio of -2.54.

Paramount Resources (TSE:POU) last posted its earnings results on Thursday, August 8th. The company reported C($0.93) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.59) by C($0.34). The company had revenue of C$218.18 million during the quarter, compared to analysts’ expectations of C$216.00 million. As a group, research analysts anticipate that Paramount Resources will post -0.73 earnings per share for the current year.

About Paramount Resources

Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. Its principal properties are the Montney and Duvernay developments covering approximately 3.0 million net acres located in Alberta and British Columbia.

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Analyst Recommendations for Paramount Resources (TSE:POU)

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