Barrington Research Estimates PARA FY2024 Earnings

Paramount Global (NASDAQ:PARA) – Research analysts at Barrington Research issued their FY2024 EPS estimates for Paramount Global in a report issued on Monday, November 11th. Barrington Research analyst J. Goss forecasts that the company will post earnings of $1.78 per share for the year. The consensus estimate for Paramount Global’s current full-year earnings is $1.81 per share. Barrington Research also issued estimates for Paramount Global’s Q4 2024 earnings at $0.13 EPS, Q2 2025 earnings at $0.13 EPS, Q3 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.10 EPS and FY2026 earnings at $2.00 EPS.

Several other equities research analysts have also recently weighed in on PARA. Guggenheim dropped their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Macquarie reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.40.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $10.84 on Thursday. The company’s fifty day moving average is $10.61 and its 200 day moving average is $11.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The stock has a market cap of $7.23 billion, a PE ratio of -1.32, a PEG ratio of 1.38 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Paramount Global’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share.

Hedge Funds Weigh In On Paramount Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its stake in Paramount Global by 3.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock valued at $291,000 after buying an additional 934 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after purchasing an additional 1,002 shares during the last quarter. Carson Advisory Inc. grew its position in Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after purchasing an additional 1,004 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in Paramount Global by 13.2% in the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after buying an additional 1,011 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Paramount Global by 22.8% in the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after buying an additional 1,067 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is presently -2.43%.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.