Barrington Research Weighs in on Paramount Global’s Q2 2024 Earnings (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) – Investment analysts at Barrington Research dropped their Q2 2024 earnings per share (EPS) estimates for Paramount Global in a research note issued to investors on Wednesday, May 1st. Barrington Research analyst J. Goss now forecasts that the company will post earnings per share of $0.11 for the quarter, down from their prior estimate of $0.21. The consensus estimate for Paramount Global’s current full-year earnings is $1.32 per share. Barrington Research also issued estimates for Paramount Global’s Q3 2024 earnings at $0.20 EPS, Q4 2024 earnings at $0.20 EPS, Q2 2025 earnings at $0.45 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.13 EPS, FY2025 earnings at $1.39 EPS and FY2026 earnings at $1.93 EPS.

A number of other equities research analysts have also commented on the company. StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Tuesday, April 30th. Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research report on Tuesday, January 9th. Raymond James reissued a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Finally, Argus downgraded shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.58.

Paramount Global Stock Performance

NASDAQ PARA opened at $13.29 on Monday. Paramount Global has a 1-year low of $10.12 and a 1-year high of $17.50. The company has a 50 day moving average of $11.60 and a 200-day moving average of $12.90. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of -88.59, a PEG ratio of 0.39 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.28. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.50%. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. VisionPoint Advisory Group LLC acquired a new stake in shares of Paramount Global during the third quarter worth about $25,000. Anchor Investment Management LLC acquired a new stake in Paramount Global during the 4th quarter worth approximately $30,000. Archer Investment Corp acquired a new position in shares of Paramount Global in the fourth quarter valued at approximately $30,000. WFA of San Diego LLC increased its position in shares of Paramount Global by 635.0% during the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of Paramount Global by 55.1% during the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after acquiring an additional 1,056 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

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.