FY2024 Earnings Estimate for Paramount Global Issued By Barrington Research (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) – Equities research analysts at Barrington Research lowered their FY2024 earnings estimates for Paramount Global in a research report issued to clients and investors on Wednesday, May 1st. Barrington Research analyst J. Goss now expects that the company will earn $1.13 per share for the year, down from their prior forecast of $1.14. The consensus estimate for Paramount Global’s current full-year earnings is $1.23 per share. Barrington Research also issued estimates for Paramount Global’s Q1 2025 earnings at $0.49 EPS.

PARA has been the subject of several other research reports. Redburn Atlantic downgraded Paramount Global from a “neutral” rating to a “sell” rating and cut their target price for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research note on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Tuesday. Finally, StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.58.

Paramount Global Stock Down 7.0 %

PARA opened at $12.89 on Friday. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $19.04. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.17. The company has a market capitalization of $8.41 billion, a P/E ratio of -92.39, a P/E/G ratio of 0.40 and a beta of 1.74. The firm’s fifty day moving average price is $11.52 and its two-hundred day moving average price is $12.88.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.28. The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. During the same period last year, the business posted $0.09 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis.

Institutional Trading of Paramount Global

Several institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Paramount Global by 541.7% during the fourth quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock worth $10,481,000 after purchasing an additional 598,235 shares during the period. Ariel Investments LLC increased its stake in Paramount Global by 18.0% during the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock worth $146,168,000 after acquiring an additional 1,731,714 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Paramount Global in the 3rd quarter valued at $1,240,000. Caprock Group LLC lifted its position in shares of Paramount Global by 2.9% during the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock valued at $746,000 after acquiring an additional 1,401 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Paramount Global by 1,201.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock worth $1,282,000 after purchasing an additional 78,100 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

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.