What is Seaport Res Ptn’s Forecast for PARA FY2024 Earnings?

Paramount Global (NASDAQ:PARA) – Investment analysts at Seaport Res Ptn raised their FY2024 earnings estimates for Paramount Global in a research note issued to investors on Sunday, November 10th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings per share of $2.25 for the year, up from their prior 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.

Several other research firms also recently issued reports on PARA. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Wells Fargo & Company raised 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 research report on Friday, August 9th. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Finally, Macquarie reiterated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a report on Monday. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and an average target price of $12.40.

Paramount Global Trading Up 1.7 %

Shares of NASDAQ PARA opened at $11.35 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a market cap of $7.57 billion, a price-to-earnings ratio of -1.38, a P/E/G ratio of 1.44 and a beta of 1.74. The business has a fifty day simple moving average of $10.60 and a 200-day simple moving average of $11.09.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS.

Institutional Inflows and Outflows

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

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.76%. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

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.