Paramount Resources (OTCMKTS:PRMRF) Announces Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Paramount Resources (OTCMKTS:PRMRF) released its earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.17), Zacks reports. The firm had revenue of $277.70 million during the quarter, compared to analysts’ expectations of $165.04 million. Paramount Resources had a return on equity of 4.31% and a net margin of 12.52%.

Paramount Resources Trading Down 2.3%

Shares of PRMRF opened at $22.21 on Friday. The firm has a market capitalization of $3.24 billion, a PE ratio of 42.13 and a beta of 0.81. Paramount Resources has a twelve month low of $15.60 and a twelve month high of $25.24. The stock’s 50 day moving average is $22.92 and its two-hundred day moving average is $21.37.

Analysts Set New Price Targets

A number of research firms have commented on PRMRF. Zacks Research raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Paramount Resources in a research report on Friday, August 7th. Scotiabank reiterated a “sector perform” rating on shares of Paramount Resources in a research note on Monday, October 19th. Raymond James Financial reaffirmed an “outperform” rating on shares of Paramount Resources in a research note on Wednesday, September 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Paramount Resources in a research report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Paramount Resources currently has an average rating of “Buy”.

Paramount Resources Company Profile

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.