Paramount Global Forecasted to Earn FY2023 Earnings of $0.16 Per Share (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) – Equities researchers at Barrington Research lowered their FY2023 earnings per share estimates for shares of Paramount Global in a research report issued on Tuesday, October 31st. Barrington Research analyst J. Goss now forecasts that the company will earn $0.16 per share for the year, down from their prior estimate of $0.31. The consensus estimate for Paramount Global’s current full-year earnings is $0.04 per share. Barrington Research also issued estimates for Paramount Global’s Q4 2023 earnings at ($0.15) EPS, FY2024 earnings at $0.75 EPS and FY2025 earnings at $1.05 EPS.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.11. The company had revenue of $7.62 billion for the quarter, compared to analyst estimates of $7.44 billion. Paramount Global had a positive return on equity of 2.15% and a negative net margin of 3.89%. Paramount Global’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS.

Several other equities analysts have also recently issued reports on PARA. Seaport Res Ptn reaffirmed a “buy” rating on shares of Paramount Global in a report on Friday, October 6th. Raymond James began coverage on Paramount Global in a report on Monday, September 18th. They issued a “market perform” rating for the company. Evercore ISI lowered their price objective on Paramount Global from $18.00 to $15.00 and set an “in-line” rating for the company in a research report on Monday, July 24th. Morgan Stanley lowered their price objective on Paramount Global from $15.00 to $9.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC lowered their price objective on Paramount Global from $28.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, October 9th. Nine research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Paramount Global Trading Up 15.4 %

Shares of PARA stock opened at $13.76 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Paramount Global has a twelve month low of $10.51 and a twelve month high of $25.93. The company has a market capitalization of $8.96 billion, a P/E ratio of -7.73, a price-to-earnings-growth ratio of 42.41 and a beta of 1.76. The business’s 50 day moving average is $12.65 and its two-hundred day moving average is $15.15.

Institutional Investors Weigh In On Paramount Global

Large investors have recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board increased its holdings in shares of Paramount Global by 4.7% in the second quarter. New Mexico Educational Retirement Board now owns 24,499 shares of the company’s stock worth $390,000 after buying an additional 1,100 shares during the period. Texas Permanent School Fund Corp increased its holdings in Paramount Global by 46.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 105,290 shares of the company’s stock valued at $2,349,000 after purchasing an additional 33,535 shares during the period. Wedbush Securities Inc. grew its holdings in shares of Paramount Global by 16.6% during the 1st quarter. Wedbush Securities Inc. now owns 24,064 shares of the company’s stock worth $537,000 after acquiring an additional 3,425 shares during the period. Riverview Capital Advisers LLC grew its holdings in shares of Paramount Global by 2.1% during the 1st quarter. Riverview Capital Advisers LLC now owns 81,545 shares of the company’s stock worth $1,819,000 after acquiring an additional 1,650 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in shares of Paramount Global by 11.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 176,294 shares of the company’s stock worth $2,805,000 after acquiring an additional 17,806 shares during the period. Institutional investors own 72.39% of the company’s stock.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, December 14th. Paramount Global’s dividend payout ratio (DPR) is presently -11.24%.

Paramount Global Company Profile

Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.