Q2 2024 EPS Estimates for Paramount Global (NASDAQ:PARA) Lowered by Barrington Research

Paramount Global (NASDAQ:PARA) – Equities research analysts at Barrington Research reduced their Q2 2024 earnings per share estimates for shares of Paramount Global in a report issued on Wednesday, May 1st. Barrington Research analyst J. Goss now expects that the company will earn $0.11 per share for the quarter, down from their previous estimate of $0.21. The consensus estimate for Paramount Global’s current full-year earnings is $1.32 per share. Barrington Research also issued estimates for Paramount Global’s Q3 2024 earnings at $0.20 EPS, Q4 2024 earnings at $0.20 EPS, Q2 2025 earnings at $0.45 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.13 EPS, FY2025 earnings at $1.39 EPS and FY2026 earnings at $1.93 EPS.

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

Several other equities research analysts also recently issued reports on PARA. Rosenblatt Securities restated a “neutral” rating and set a $13.00 target price on shares of Paramount Global in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Morgan Stanley reduced their target price on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, February 27th. Needham & Company LLC downgraded shares of Paramount Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company cut their price objective on shares of Paramount Global from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Ten equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently 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 Monday. Paramount Global has a 12 month low of $10.12 and a 12 month high of $19.04. The company has a market cap of $8.41 billion, a PE ratio of -85.93, a price-to-earnings-growth ratio of 0.39 and a beta of 1.74. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $11.55 and a 200 day moving average of $12.89.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s payout ratio is presently -133.32%.

Institutional Trading of Paramount Global

Hedge funds have recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Paramount Global by 5.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock worth $220,000 after buying an additional 769 shares during the period. Highlander Capital Management LLC increased its stake in Paramount Global by 13.4% in the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after purchasing an additional 850 shares during the period. Kestra Private Wealth Services LLC lifted its position in Paramount Global by 3.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock valued at $431,000 after purchasing an additional 879 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Paramount Global by 0.7% during the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after purchasing an additional 887 shares during the period. Finally, Cape Investment Advisory Inc. grew its holdings in shares of Paramount Global by 5.2% in the fourth quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock worth $266,000 after purchasing an additional 889 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

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.