Paramount Global (NASDAQ:PARA) to Post Q2 2024 Earnings of $0.11 Per Share, Barrington Research Forecasts

Paramount Global (NASDAQ:PARA) – Analysts at Barrington Research reduced their Q2 2024 earnings estimates for Paramount Global in a research note issued to investors 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 prior 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 posted its quarterly earnings data 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. The company had revenue of $7.69 billion during 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%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS.

Several other research firms have also recently commented on PARA. Morgan Stanley reduced their target price on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, February 27th. Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Moffett Nathanson upgraded Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research note on Tuesday, January 9th. Finally, StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating 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 MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and an average target price of $13.58.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $13.29 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The company has a market cap of $8.86 billion, a PE ratio of -88.59, a P/E/G ratio of 0.39 and a beta of 1.74. The stock has a fifty day moving average price of $11.60 and a 200 day moving average price of $12.90. Paramount Global has a 1-year low of $10.12 and a 1-year high of $17.50.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio is presently -133.32%.

Institutional Investors Weigh In On Paramount Global

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Paramount Global by 541.7% in the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock valued at $10,481,000 after acquiring an additional 598,235 shares during the last quarter. Ariel Investments LLC lifted its position in Paramount Global by 18.0% during the third 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 period. Schonfeld Strategic Advisors LLC acquired a new stake in Paramount Global in the 3rd quarter worth about $1,240,000. Caprock Group LLC grew its holdings in Paramount Global by 2.9% in the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock valued at $746,000 after buying an additional 1,401 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Paramount Global by 1,201.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock valued at $1,282,000 after acquiring an additional 78,100 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other 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.