Barrington Research Estimates PARA FY2024 Earnings

Paramount Global (NASDAQ:PARA) – Equities research analysts at Barrington Research lowered their FY2024 earnings per share (EPS) estimates for shares of Paramount Global in a research note issued to investors on Tuesday, February 4th. Barrington Research analyst P. Sholl now anticipates that the company will post earnings of $1.73 per share for the year, down from their previous forecast of $1.78. 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 $0.09 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.57 EPS, FY2025 earnings at $1.23 EPS and FY2026 earnings at $1.95 EPS.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion during 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%. 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 company posted $0.30 earnings per share.

PARA has been the subject of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Finally, Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.58.

Paramount Global Price Performance

Paramount Global stock opened at $10.84 on Wednesday. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.58 and a beta of 1.69. The company’s 50-day moving average price is $10.76 and its two-hundred day moving average price is $10.72. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Institutional Trading of Paramount Global

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its holdings in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares in the last quarter. Blue Trust Inc. increased its position in Paramount Global by 162.8% in the 3rd 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 last quarter. Huntington National Bank lifted its holdings in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Paramount Global in the 3rd quarter valued at approximately $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after buying an additional 4,100 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other 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.