Seaport Res Ptn Has Optimistic View of PARAA FY2024 Earnings

Paramount Global (NASDAQ:PARAA - Free Report) - Equities research analysts at Seaport Res Ptn increased their FY2024 earnings per share estimates for shares of Paramount Global in a research report issued to clients and investors on Sunday, November 10th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $2.25 per share for the year, up from their prior estimate of $1.96. The consensus estimate for Paramount Global's current full-year earnings is $2.25 per share. Seaport Res Ptn also issued estimates for Paramount Global's Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.93 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $3.48 EPS and FY2026 earnings at $4.10 EPS.

Paramount Global Stock Up 2.6 %

Shares of Paramount Global stock traded up $0.58 on Wednesday, reaching $22.73. 77,994 shares of the company were exchanged, compared to its average volume of 69,038. Paramount Global has a one year low of $16.06 and a one year high of $26.34. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $21.91 and a 200 day moving average of $21.55. The company has a market capitalization of $15.15 billion, a price-to-earnings ratio of -2.77 and a beta of 1.66.

Institutional Trading of Paramount Global

Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in Paramount Global by 416.3% during the 1st quarter. Russell Investments Group Ltd. now owns 2,592 shares of the company's stock worth $57,000 after acquiring an additional 2,090 shares during the period. Quest Partners LLC bought a new position in shares of Paramount Global in the third quarter worth $106,000. Gladius Capital Management LP acquired a new position in Paramount Global in the third quarter valued at about $233,000. Allspring Global Investments Holdings LLC lifted its position in Paramount Global by 5.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company's stock worth $239,000 after purchasing an additional 537 shares during the period. Finally, Welch Group LLC acquired a new stake in Paramount Global during the second quarter worth about $298,000. 5.98% of the stock is owned by institutional investors and hedge funds.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 0.88%. Paramount Global's dividend payout ratio (DPR) is currently -2.43%.

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.