Paramount Resources (OTCMKTS:PRMRF) Announces Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Paramount Resources (OTCMKTS:PRMRF - Get Free Report) announced its earnings results on Wednesday. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.14), Zacks reports. The business had revenue of $319.17 million for the quarter, compared to analyst estimates of $446.00 million. Paramount Resources had a return on equity of 10.04% and a net margin of 19.96%.

Paramount Resources Price Performance

OTCMKTS PRMRF traded up $0.17 during mid-day trading on Friday, hitting $11.04. The stock had a trading volume of 57,116 shares, compared to its average volume of 108,634. The firm's 50 day moving average is $18.72 and its 200 day moving average is $19.76. Paramount Resources has a twelve month low of $9.89 and a twelve month high of $24.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 6.20 and a beta of 2.46.

Paramount Resources Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were paid a $0.0343 dividend. This represents a yield of 1.84%. The ex-dividend date of this dividend was Thursday, February 20th. Paramount Resources's dividend payout ratio is currently 23.03%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PRMRF shares. National Bank Financial downgraded Paramount Resources from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Cormark raised Paramount Resources from a "hold" rating to a "moderate buy" rating in a research note on Friday, November 15th.

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Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.