Barrington Research Research Analysts Decrease Earnings Estimates for Paramount Global (NASDAQ:PARA)

Paramount Global (NASDAQ:PARAFree Report) – Research analysts at Barrington Research reduced their FY2023 earnings per share (EPS) estimates for Paramount Global in a report released on Tuesday, February 6th. Barrington Research analyst J. Goss now forecasts that the company will post earnings per share of $0.50 for the year, down from their prior estimate of $0.54. The consensus estimate for Paramount Global’s current full-year earnings is $0.48 per share. Barrington Research also issued estimates for Paramount Global’s Q4 2023 earnings at ($0.03) EPS, Q2 2024 earnings at $0.02 EPS and FY2024 earnings at $0.99 EPS.

PARA has been the topic of a number of other research reports. TheStreet downgraded Paramount Global from a “c-” rating to a “d+” rating in a research report on Friday, October 27th. Morgan Stanley reduced their price objective on Paramount Global from $15.00 to $9.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Moffett Nathanson raised Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a research report on Tuesday, January 9th. Finally, The Goldman Sachs Group lowered their target price on shares of Paramount Global from $15.00 to $11.00 and set a “sell” rating for the company in a report on Friday, October 20th. Eleven research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average target price of $15.40.

Read Our Latest Stock Analysis on PARA

Paramount Global Trading Down 8.1 %

Shares of PARA stock opened at $12.85 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.09 and a debt-to-equity ratio of 0.70. Paramount Global has a 52-week low of $10.51 and a 52-week high of $24.66. The business’s fifty day moving average is $14.59 and its 200 day moving average is $13.86.

Hedge Funds Weigh In On Paramount Global

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Paramount Global by 30.4% in the first quarter. BlackRock Inc. now owns 54,882,034 shares of the company’s stock worth $1,224,418,000 after buying an additional 12,783,448 shares during the last quarter. Contrarius Investment Management Ltd grew its position in shares of Paramount Global by 33.2% in the second quarter. Contrarius Investment Management Ltd now owns 10,351,771 shares of the company’s stock valued at $164,697,000 after purchasing an additional 2,579,501 shares during the period. Ariel Investments LLC boosted its position in Paramount Global by 35.4% during the second quarter. Ariel Investments LLC now owns 9,599,136 shares of the company’s stock worth $152,722,000 after acquiring an additional 2,512,163 shares during the last quarter. State Street Corp boosted its position in Paramount Global by 7.3% during the first quarter. State Street Corp now owns 35,333,056 shares of the company’s stock worth $796,459,000 after acquiring an additional 2,402,874 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in Paramount Global during the first quarter worth about $41,174,000. 72.39% of the stock is currently owned by institutional investors.

Paramount Global Company Profile

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Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.

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Earnings History and Estimates for Paramount Global (NASDAQ:PARA)

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