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

Paramount Global (NASDAQ:PARA) – Equities researchers at Barrington Research dropped their FY2024 earnings per share estimates for Paramount Global in a research report issued to clients and investors on Wednesday, May 1st. Barrington Research analyst J. Goss now forecasts that the company will earn $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.

PARA has been the topic of several other reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 price target on shares of Paramount Global in a report on Tuesday, April 9th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Tuesday. Redburn Atlantic downgraded 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 report on Thursday, January 11th. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Raymond James restated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paramount Global currently has an average rating of “Hold” and a consensus target price of $13.58.

Paramount Global Price Performance

NASDAQ:PARA opened at $14.28 on Friday. 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 business has a 50 day simple moving average of $11.52 and a 200-day simple moving average of $12.88. Paramount Global has a 1 year low of $10.12 and a 1 year high of $19.04. The firm has a market capitalization of $9.32 billion, a price-to-earnings ratio of -92.39, a PEG ratio of 0.40 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data 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 business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS.

Institutional Trading of Paramount Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kodai Capital Management LP acquired a new position in shares of Paramount Global in the 4th quarter valued at about $84,842,000. Norges Bank acquired a new position in shares of Paramount Global in the 4th quarter valued at about $41,497,000. Lingotto Investment Management LLP lifted its holdings in shares of Paramount Global by 375.8% in the 4th quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock valued at $48,388,000 after buying an additional 2,577,978 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paramount Global by 15.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company’s stock valued at $171,567,000 after buying an additional 1,767,173 shares during the period. Finally, Ariel Investments LLC lifted 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 valued at $146,168,000 after buying an additional 1,731,714 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.40%. Paramount Global’s dividend payout ratio is currently -133.32%.

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.