Q1 2024 Earnings Forecast for Paramount Global Issued By Seaport Res Ptn (NASDAQ:PARA)

Paramount Global (NASDAQ:PARAFree Report) – Seaport Res Ptn cut their Q1 2024 earnings per share estimates for shares of Paramount Global in a report issued on Thursday, March 14th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings per share of $0.25 for the quarter, down from their previous forecast of $0.26. The consensus estimate for Paramount Global’s current full-year earnings is $1.20 per share. Seaport Res Ptn also issued estimates for Paramount Global’s Q1 2025 earnings at $0.65 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.69 EPS and Q4 2025 earnings at $0.85 EPS.

Paramount Global (NASDAQ:PARAGet Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS.

Several other brokerages have also recently issued reports on PARA. Redburn Atlantic cut Paramount Global from a “neutral” rating to a “sell” rating and dropped their target price for the company from $17.00 to $11.00 in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley lowered their price objective 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. Benchmark lowered their price objective on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a research report on Sunday, March 10th. Eleven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.84.

Check Out Our Latest Stock Report on PARA

Paramount Global Stock Down 0.4 %

Shares of NASDAQ PARA opened at $11.21 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $7.31 billion, a PE ratio of -10.96, a price-to-earnings-growth ratio of 0.43 and a beta of 1.76. The stock’s fifty day simple moving average is $12.68 and its two-hundred day simple moving average is $13.22. Paramount Global has a 12-month low of $10.16 and a 12-month high of $24.00.

Hedge Funds Weigh In On Paramount Global

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company’s stock valued at $862,058,000 after buying an additional 626,256 shares during the last quarter. BlackRock Inc. raised its stake in shares of Paramount Global by 30.4% during the 1st quarter. BlackRock Inc. now owns 54,882,034 shares of the company’s stock valued at $1,224,418,000 after buying an additional 12,783,448 shares during the last quarter. State Street Corp raised its stake in shares of Paramount Global by 7.3% during the 1st quarter. State Street Corp now owns 35,333,056 shares of the company’s stock valued at $796,459,000 after buying an additional 2,402,874 shares during the last quarter. Invesco Ltd. raised its stake in shares of Paramount Global by 9.4% during the 3rd quarter. Invesco Ltd. now owns 14,832,568 shares of the company’s stock valued at $191,340,000 after buying an additional 1,272,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Paramount Global by 15.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company’s stock valued at $171,567,000 after buying an additional 1,767,173 shares during the last quarter. Hedge funds and other institutional investors own 72.39% of the company’s stock.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.78%. Paramount Global’s payout ratio is currently -19.61%.

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 ChilevisiĆ³n; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.

Further Reading

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

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