Barrington Research Weighs in on Paramount Global’s Q2 2024 Earnings (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) – Barrington Research lowered their Q2 2024 earnings estimates for shares of Paramount Global in a note issued to investors on Wednesday, May 1st. Barrington Research analyst J. Goss now anticipates that the company will post earnings per share of $0.11 for the quarter, down from their previous estimate of $0.21. The consensus estimate for Paramount Global’s current full-year earnings is $1.32 per share. Barrington Research also issued estimates for Paramount Global’s Q3 2024 earnings at $0.20 EPS, Q4 2024 earnings at $0.20 EPS, Q2 2025 earnings at $0.45 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.13 EPS, FY2025 earnings at $1.39 EPS and FY2026 earnings at $1.93 EPS.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS.

A number of other research firms also recently issued reports on PARA. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Redburn Atlantic cut shares of Paramount Global from a “neutral” rating to a “sell” rating and cut their price target for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. JPMorgan Chase & Co. lowered their target price on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Morgan Stanley reduced their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. Finally, Seaport Res Ptn cut Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Ten equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Paramount Global has an average rating of “Hold” and an average price target of $13.58.

Paramount Global Stock Down 3.0 %

Shares of Paramount Global stock opened at $12.89 on Monday. Paramount Global has a 52-week low of $10.12 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The business’s 50 day simple moving average is $11.63 and its 200 day simple moving average is $12.91. The firm has a market cap of $8.59 billion, a PE ratio of -85.93, a P/E/G ratio of 0.39 and a beta of 1.74.

Hedge Funds Weigh In On Paramount Global

Large investors have recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new stake in Paramount Global in the 3rd quarter valued at about $25,000. Archer Investment Corp acquired a new stake in Paramount Global during the fourth quarter worth approximately $30,000. Anchor Investment Management LLC bought a new position in Paramount Global during the 4th quarter worth $30,000. WFA of San Diego LLC raised its holdings in Paramount Global by 635.0% in the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Paramount Global during the 4th quarter valued at $39,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio is presently -133.33%.

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.