Seaport Res Ptn Issues Optimistic Estimate for PARA Earnings

Paramount Global (NASDAQ:PARA - Free Report) - Investment analysts at Seaport Res Ptn increased their FY2024 earnings per share estimates for Paramount Global in a report released on Sunday, November 10th. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $2.25 per share for the year, up from their previous estimate of $1.96. The consensus estimate for Paramount Global's current full-year earnings is $1.78 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 (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The company's revenue was down 5.6% compared to the same quarter last year.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company upgraded shares of Paramount Global from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Benchmark reiterated a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a report on Monday. JPMorgan Chase & Co. dropped their target price on Paramount Global from $12.00 to $11.00 and set an "underweight" rating on the stock in a report on Thursday, August 15th. Finally, StockNews.com upgraded 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 issued a buy rating to the stock. According to data from MarketBeat, Paramount Global presently has an average rating of "Hold" and an average target price of $12.40.

Paramount Global Stock Down 2.5 %

Shares of NASDAQ PARA traded down $0.29 during midday trading on Wednesday, hitting $11.16. 12,005,286 shares of the stock traded hands, compared to its average volume of 14,876,738. 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 business has a 50 day moving average price of $10.57 and a two-hundred day moving average price of $11.09. The company has a market cap of $7.44 billion, a PE ratio of -1.39, a P/E/G ratio of 1.44 and a beta of 1.74.

Paramount Global Announces Dividend

The company also recently announced 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. This represents a $0.20 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Monday, December 16th. Paramount Global's dividend payout ratio is currently -2.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PARA. Vanguard Group Inc. raised its position in shares of Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company's stock valued at $730,805,000 after buying an additional 3,803,928 shares in the last quarter. Lingotto Investment Management LLP boosted its stake in shares of Paramount Global by 628.8% in the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company's stock valued at $311,046,000 after purchasing an additional 25,829,185 shares in the last quarter. Ariel Investments LLC boosted its stake in shares of Paramount Global by 16.5% in the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company's stock valued at $145,899,000 after purchasing an additional 1,992,576 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. Finally, Kodai Capital Management LP boosted its position in Paramount Global by 9.2% during the first quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company's stock valued at $73,732,000 after buying an additional 527,897 shares during the period. Institutional investors own 73.00% of the company's stock.

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.