Barrington Research Comments on PARA FY2024 Earnings

Paramount Global (NASDAQ:PARA) – Analysts at Barrington Research issued their FY2024 earnings per share (EPS) estimates for shares of Paramount Global in a note issued to investors on Monday, November 11th. Barrington Research analyst J. Goss expects that the company will post earnings of $1.78 per share for the year. The consensus estimate for Paramount Global’s current full-year earnings is $1.81 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 analysts have also commented on the company. Guggenheim cut their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Eight investment 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’s stock. According to data from MarketBeat, Paramount Global presently has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Price Performance

Shares of PARA opened at $10.84 on Thursday. The firm has a fifty day simple moving average of $10.61 and a two-hundred day simple moving average of $11.08. The firm has a market cap of $7.23 billion, a PE ratio of -1.32, a P/E/G ratio of 1.38 and a beta of 1.74. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50.

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

Hedge Funds Weigh In On Paramount Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in Paramount Global by 3.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock valued at $291,000 after acquiring an additional 934 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Paramount Global by 5.3% in the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after purchasing an additional 1,002 shares during the last quarter. Carson Advisory Inc. lifted its position in shares of Paramount Global by 1.9% in the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after buying an additional 1,004 shares in the last quarter. Prestige Wealth Management Group LLC boosted its stake in Paramount Global by 13.2% during the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after buying an additional 1,011 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after buying an additional 1,067 shares in the last quarter. Institutional investors 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. Investors of record on Monday, December 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.85%. Paramount Global’s dividend payout ratio is presently -2.43%.

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.