Paramount Resources (TSE:POU) Price Target Cut to C$9.00

Paramount Resources (TSE:POU) had its price target cut by Royal Bank of Canada from C$10.00 to C$9.00 in a report released on Thursday, BayStreet.CA reports.

A number of other research firms have also recently commented on POU. GMP Securities reissued a buy rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. National Bank Financial cut their price target on shares of Rocky Mountain Dealerships from C$10.00 to C$8.00 in a research note on Tuesday, July 2nd. CSFB reissued a neutral rating and issued a C$32.00 price target on shares of Vermilion Energy in a research note on Tuesday, July 16th. Raymond James reissued a buy rating and issued a $26.00 price target on shares of Propetro in a research note on Tuesday, July 2nd. Finally, Laurentian boosted their price target on shares of Paramount Resources from C$12.50 to C$13.00 in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of C$9.68.

POU stock opened at C$6.72 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 40.00. Paramount Resources has a one year low of C$5.75 and a one year high of C$15.84. The stock has a market cap of $877.78 million and a PE ratio of -2.32. The business has a 50 day moving average of C$6.70.

Paramount Resources (TSE:POU) last released its quarterly earnings results on Wednesday, May 8th. The company reported C($0.59) EPS for the quarter, topping the Zacks’ consensus estimate of C($4.41) by C$3.82. The company had revenue of C$246.05 million during the quarter, compared to analysts’ expectations of C$254.00 million. On average, sell-side analysts forecast that Paramount Resources will post -0.85 earnings per share for the current fiscal 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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