FY2024 EPS Forecast for Paramount Global Cut by Analyst

Paramount Global (NASDAQ:PARA) – Equities research analysts at Barrington Research decreased their FY2024 earnings per share estimates for Paramount Global in a research report issued to clients and investors on Tuesday, February 4th. Barrington Research analyst P. Sholl now expects that the company will post earnings of $1.73 per share for the year, down from their prior estimate of $1.78. 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 $0.09 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.57 EPS, FY2025 earnings at $1.23 EPS and FY2026 earnings at $1.95 EPS.

A number of other research firms have also weighed in on PARA. Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday. Macquarie restated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Paramount Global presently has an average rating of “Hold” and a consensus target price of $12.58.

Paramount Global Price Performance

NASDAQ PARA opened at $10.84 on Wednesday. The stock’s fifty day moving average price is $10.75 and its 200 day moving average price is $10.72. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market cap of $7.23 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.58 and a beta of 1.69.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS 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 business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis.

Hedge Funds Weigh In On Paramount Global

Hedge funds have recently modified their holdings of the business. Carson Advisory Inc. lifted its stake in Paramount Global by 1.9% during the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after purchasing an additional 1,004 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Paramount Global by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after acquiring an additional 1,356 shares in the last quarter. Allworth Financial LP grew its position in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after purchasing an additional 1,481 shares during the period. Finally, Huntington National Bank lifted its position in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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.