Paramount Global to Post FY2024 Earnings of $1.96 Per Share, Seaport Res Ptn Forecasts (NASDAQ:PARAA)

Paramount Global (NASDAQ:PARAA - Free Report) - Research analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for Paramount Global in a research report issued to clients and investors on Thursday, October 3rd. Seaport Res Ptn analyst D. Joyce now anticipates that the company will earn $1.96 per share for the year, up from their previous estimate of $1.91. The consensus estimate for Paramount Global's current full-year earnings is $1.91 per share. Seaport Res Ptn also issued estimates for Paramount Global's Q4 2024 earnings at $0.40 EPS, FY2026 earnings at $2.31 EPS, FY2027 earnings at $2.24 EPS and FY2028 earnings at $2.96 EPS.

Paramount Global (NASDAQ:PARAA - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.36. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.55 billion.

Paramount Global Stock Up 0.9 %

PARAA traded up $0.19 during trading on Monday, reaching $22.14. 32,381 shares of the stock traded hands, compared to its average volume of 74,191. The stock's 50-day simple moving average is $22.38 and its two-hundred day simple moving average is $21.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. Paramount Global has a fifty-two week low of $13.40 and a fifty-two week high of $26.34. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of -147.60 and a beta of 1.66.

Paramount Global Announces Dividend

The business 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 $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.90%. Paramount Global's dividend payout ratio is currently -133.33%.

Institutional Trading of Paramount Global

Several large investors have recently modified their holdings of PARAA. Mark Asset Management LP acquired a new stake in shares of Paramount Global during the 2nd quarter valued at about $3,351,000. Squarepoint Ops LLC lifted its position in shares of Paramount Global by 120.0% during the 2nd quarter. Squarepoint Ops LLC now owns 46,749 shares of the company's stock worth $859,000 after buying an additional 25,504 shares during the period. Dimensional Fund Advisors LP boosted its stake in Paramount Global by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 143,261 shares of the company's stock valued at $2,633,000 after buying an additional 6,309 shares in the last quarter. Poehling Capital Management INC. grew its position in Paramount Global by 10.2% in the second quarter. Poehling Capital Management INC. now owns 433,435 shares of the company's stock valued at $7,967,000 after acquiring an additional 40,142 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Paramount Global by 13.1% during the second quarter. Bank of New York Mellon Corp now owns 28,315 shares of the company's stock worth $520,000 after acquiring an additional 3,281 shares in the last quarter. 5.98% of the stock is owned by institutional investors.

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.