Paramount Global to Post FY2024 Earnings of $1.13 Per Share, Barrington Research Forecasts (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) – Equities research analysts at Barrington Research lowered their FY2024 earnings per share (EPS) estimates for shares of Paramount Global in a research note issued to investors on Wednesday, May 1st. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $1.13 per share for the year, down from their prior estimate of $1.14. The consensus estimate for Paramount Global’s current full-year earnings is $1.23 per share. Barrington Research also issued estimates for Paramount Global’s Q1 2025 earnings at $0.49 EPS.

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

Other research analysts have also recently issued reports about the stock. Redburn Atlantic downgraded shares of Paramount Global from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Needham & Company LLC lowered Paramount Global from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Wells Fargo & Company cut their price objective on Paramount Global from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a research note on Tuesday. Ten analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Paramount Global currently has an average rating of “Hold” and a consensus price target of $13.58.

Paramount Global Price Performance

PARA opened at $12.89 on Friday. Paramount Global has a 1 year low of $10.12 and a 1 year high of $19.04. 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 company has a market capitalization of $8.41 billion, a price-to-earnings ratio of -92.39, a P/E/G ratio of 0.40 and a beta of 1.74. The firm’s fifty day moving average price is $11.52 and its two-hundred day moving average price is $12.88.

Paramount Global Dividend Announcement

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

Institutional Investors Weigh In On Paramount Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Kodai Capital Management LP purchased a new position in Paramount Global during the fourth quarter worth about $84,842,000. Norges Bank bought a new position in shares of Paramount Global in the fourth quarter worth approximately $41,497,000. Lingotto Investment Management LLP raised its stake in Paramount Global by 375.8% in the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock valued at $48,388,000 after purchasing an additional 2,577,978 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Paramount Global by 15.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company’s stock valued at $171,567,000 after purchasing an additional 1,767,173 shares during the last quarter. Finally, Ariel Investments LLC increased its holdings in shares of Paramount Global by 18.0% in the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock worth $146,168,000 after buying an additional 1,731,714 shares during the last quarter. 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.