Analysts Set Expectations for PARA FY2024 Earnings

Paramount Global (NASDAQ:PARA) – Stock analysts at Barrington Research issued their FY2024 earnings per share estimates for shares of Paramount Global in a report released on Monday, November 11th. Barrington Research analyst J. Goss anticipates that the company will earn $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) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. lowered their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday. Finally, Macquarie reiterated an “underperform” rating and set a $10.00 price target on shares of Paramount Global 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Paramount Global has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $11.16 on Thursday. The business’s 50-day simple moving average is $10.58 and its 200-day simple moving average is $11.09. 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 52 week low of $9.54 and a 52 week high of $17.50. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of -1.36, a P/E/G ratio of 1.44 and a beta of 1.74.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is currently -2.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PARA. Blue Trust Inc. increased its position in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after purchasing an additional 1,573 shares during the period. Huntington National Bank raised its stake in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in Paramount Global in the second quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC bought a new position in Paramount Global in the second quarter valued at approximately $43,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Paramount Global during the third quarter worth $47,000. Institutional investors and hedge funds 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.