FY2024 Earnings Forecast for PARA Issued By Seaport Res Ptn

Paramount Global (NASDAQ:PARA) – Investment analysts at Seaport Res Ptn lifted their FY2024 EPS estimates for Paramount Global in a research note issued on Sunday, November 10th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings of $2.25 per share for the year, up from their previous forecast of $1.96. The consensus estimate for Paramount Global’s current full-year earnings is $1.78 per share. Seaport Res Ptn also issued estimates for Paramount Global’s Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.93 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $3.48 EPS and FY2026 earnings at $4.10 EPS.

Several other analysts have also issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday. JPMorgan Chase & Co. cut their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a report on Monday. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Finally, Benchmark restated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.40.

Paramount Global Trading Down 2.5 %

Paramount Global stock opened at $11.16 on Wednesday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The company has a market cap of $7.44 billion, a P/E ratio of -1.36, a P/E/G ratio of 1.44 and a beta of 1.74. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $10.58 and a two-hundred day simple moving average of $11.09.

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

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.79%. Paramount Global’s dividend payout ratio is currently -2.43%.

Hedge Funds Weigh In On Paramount Global

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank grew its stake in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of Paramount Global in the 2nd quarter worth about $35,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Paramount Global in the 2nd quarter worth about $43,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Paramount Global during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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.