Equities Analysts Issue Forecasts for PARA FY2024 Earnings

Paramount Global (NASDAQ:PARA) – Research analysts at Barrington Research issued their FY2024 EPS estimates for shares of Paramount Global in a research report issued on Monday, November 11th. Barrington Research analyst J. Goss expects that the company will post earnings per share of $1.78 for the year. The consensus estimate for Paramount Global’s current full-year earnings is $1.78 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 research analysts have also recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday. Macquarie reiterated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday. Finally, Guggenheim dropped their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Paramount Global has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Stock Performance

Shares of PARA stock opened at $11.35 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a 50 day simple moving average of $10.60 and a 200-day simple moving average of $11.09. The company has a market cap of $7.57 billion, a price-to-earnings ratio of -1.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.74. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its quarterly 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 firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share.

Institutional Investors Weigh In On Paramount Global

Hedge funds have recently made changes to their positions in the business. Lingotto Investment Management LLP lifted its position in Paramount Global by 628.8% during the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after buying an additional 25,829,185 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after acquiring an additional 3,803,928 shares during the period. Capitolis Liquid Global Markets LLC purchased a new position in shares of Paramount Global during the 1st quarter worth about $33,191,000. Jane Street Group LLC grew its holdings in Paramount Global by 323.5% in the first quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock valued at $32,417,000 after purchasing an additional 2,103,938 shares during the period. Finally, Ariel Investments LLC increased its position in Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after purchasing an additional 1,992,576 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is presently -2.43%.

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.