Barrington Research Comments on PARA FY2024 Earnings

Paramount Global (NASDAQ:PARA) – Barrington Research issued their FY2024 earnings per share (EPS) estimates for 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 $1.78 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.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Paramount Global’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS.

Several other equities analysts have also recently commented on PARA. JPMorgan Chase & Co. decreased their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research report on Monday. Finally, Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Eight equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.40.

Paramount Global Trading Up 1.7 %

NASDAQ PARA opened at $11.35 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of -1.38, a PEG ratio of 1.44 and a beta of 1.74. The firm has a 50 day simple moving average of $10.60 and a 200-day simple moving average of $11.09. Paramount Global has a one year low of $9.54 and a one year high of $17.50.

Institutional Trading of Paramount Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Paramount Global by 3.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after buying an additional 934 shares during the period. Texas Permanent School Fund Corp raised its position in Paramount Global by 4.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 99,705 shares of the company’s stock valued at $1,174,000 after purchasing an additional 4,152 shares during the last quarter. Empowered Funds LLC boosted its stake in Paramount Global by 45.1% during the 1st quarter. Empowered Funds LLC now owns 15,270 shares of the company’s stock worth $180,000 after purchasing an additional 4,748 shares during the period. SG Americas Securities LLC grew its position in Paramount Global by 109.9% during the 1st quarter. SG Americas Securities LLC now owns 100,473 shares of the company’s stock worth $1,183,000 after purchasing an additional 52,614 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Paramount Global by 146.5% in the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after buying an additional 90,262 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is -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.