PARA FY2024 EPS Estimate Decreased by Barrington Research

Paramount Global (NASDAQ:PARA) – Analysts at Barrington Research dropped their FY2024 earnings estimates for shares of Paramount Global in a report issued on Tuesday, February 4th. Barrington Research analyst P. Sholl now expects that the company will post earnings per share of $1.73 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.

A number of other research firms also recently commented on PARA. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Morgan Stanley lifted their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Macquarie reissued an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.58.

Paramount Global Price Performance

NASDAQ:PARA opened at $10.92 on Wednesday. The company has a 50-day moving average of $10.75 and a 200-day moving average of $10.72. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. 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 (NASDAQ:PARA) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS.

Hedge Funds Weigh In On Paramount Global

A number of institutional investors have recently modified their holdings of PARA. Allworth Financial LP raised its stake in shares of Paramount Global by 140.1% in 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 during the last quarter. Blue Trust Inc. grew its position in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares during the period. Huntington National Bank grew its position 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 worth $29,000 after buying an additional 1,561 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Paramount Global during the 3rd quarter worth approximately $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Paramount Global by 518.3% during the 3rd 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 period. 73.00% of the stock is owned by 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.