Barrington Research Comments on PARA FY2024 Earnings

Paramount Global (NASDAQ:PARA - Free Report) - Barrington Research issued their FY2024 earnings estimates for Paramount Global in a report issued on Monday, November 11th. Barrington Research analyst J. Goss forecasts 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 - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping 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 company had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.94 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. Paramount Global's quarterly revenue was down 5.6% on a year-over-year basis.

A number of other research firms have also recently weighed in on PARA. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Monday. Benchmark reiterated a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating on the stock in a research report on Thursday, August 15th. Macquarie restated an "underperform" rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday. Finally, StockNews.com upgraded shares of Paramount Global from a "sell" rating to a "hold" rating in a report on Monday. 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.com, the company presently has an average rating of "Hold" and an average price target of $12.40.

Paramount Global Trading Up 1.3 %

PARA stock traded up $0.15 during mid-day trading on Thursday, reaching $11.31. 6,047,729 shares of the stock traded hands, compared to its average volume of 14,836,791. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The stock has a market capitalization of $7.54 billion, a PE ratio of -1.36, a PEG ratio of 1.44 and a beta of 1.74. The business has a 50-day moving average price of $10.58 and a two-hundred day moving average price of $11.09.

Hedge Funds Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently modified their holdings of PARA. Blue Trust Inc. raised its position in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock valued at $26,000 after purchasing an additional 1,573 shares during the last quarter. Huntington National Bank raised its position in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company's stock valued at $29,000 after purchasing an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Paramount Global in the 2nd quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paramount Global in the 2nd quarter valued at approximately $43,000. Finally, Kennebec Savings Bank purchased a new position in shares of Paramount Global in the 3rd quarter valued at approximately $47,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.77%. The ex-dividend date 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.