Seaport Res Ptn Weighs in on Paramount Global’s Q2 2024 Earnings (NASDAQ:PARAA)

Paramount Global (NASDAQ:PARAA) – Equities researchers at Seaport Res Ptn reduced their Q2 2024 earnings estimates for Paramount Global in a research report issued on Tuesday, April 30th. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $0.18 per share for the quarter, down from their previous estimate of $0.25. The consensus estimate for Paramount Global’s current full-year earnings is $1.37 per share. Seaport Res Ptn also issued estimates for Paramount Global’s FY2024 earnings at $1.25 EPS.

Paramount Global Stock Down 14.1 %

PARAA stock opened at 22.42 on Friday. 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 firm has a fifty day moving average price of 21.83 and a two-hundred day moving average price of 19.77. Paramount Global has a 1-year low of 13.40 and a 1-year high of 26.34. The firm has a market cap of $14.63 billion, a price-to-earnings ratio of -159.99 and a beta of 1.66.

Paramount Global (NASDAQ:PARAA) last announced its earnings results on Wednesday, February 28th. The company reported 0.04 EPS for the quarter, missing the consensus estimate of 0.08 by -0.04. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company had revenue of 7.64 billion for the quarter, compared to analysts’ expectations of 7.89 billion. During the same quarter in the previous year, the business posted $0.08 earnings per share.

Institutional Trading of Paramount Global

A number of hedge funds and other institutional investors have recently modified their holdings of PARAA. Allspring Global Investments Holdings LLC grew its stake in shares of Paramount Global by 5.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company’s stock valued at $239,000 after buying an additional 537 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Paramount Global by 708.2% during the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $28,000 after purchasing an additional 1,126 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Paramount Global by 8.8% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 81,700 shares of the company’s stock worth $1,606,000 after acquiring an additional 6,600 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Paramount Global by 29.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock worth $557,000 after buying an additional 8,007 shares during the period. Finally, Raymond James & Associates acquired a new stake in shares of Paramount Global in the 4th quarter valued at $205,000. Institutional investors own 5.98% of the company’s stock.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given 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 yield of 0.89%. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

Paramount Global Company Profile

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.