Q2 2024 EPS Estimates for Paramount Global Decreased by Analyst (NASDAQ:PARAA)

Paramount Global (NASDAQ:PARAA) – Seaport Res Ptn decreased their Q2 2024 earnings estimates for Paramount Global in a research note issued to investors on Tuesday, April 30th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will earn $0.18 per share for the quarter, down from their previous forecast of $0.25. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Paramount Global’s current full-year earnings is $1.25 per share. Seaport Res Ptn also issued estimates for Paramount Global’s FY2024 earnings at $1.25 EPS.

Paramount Global Trading Down 14.1 %

NASDAQ:PARAA opened at 22.42 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. Paramount Global has a 1-year low of 13.40 and a 1-year high of 26.34. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of -149.47 and a beta of 1.66. The business’s 50-day moving average price is 21.87 and its two-hundred day moving average price is 19.85.

Paramount Global (NASDAQ:PARAA) last posted its quarterly earnings results on Wednesday, February 28th. The company reported 0.04 earnings per share for the quarter, missing analysts’ consensus estimates of 0.08 by -0.04. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company had revenue of 7.64 billion during the quarter, compared to analyst estimates of 7.89 billion. During the same period last year, the company earned $0.08 EPS.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.89%. Paramount Global’s dividend payout ratio is -133.33%.

Hedge Funds Weigh In On Paramount Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of Paramount Global by 31.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 31,737 shares of the company’s stock worth $501,000 after purchasing an additional 7,670 shares during the period. Gamco Investors INC. ET AL raised its holdings in Paramount Global by 7.5% during the 3rd quarter. Gamco Investors INC. ET AL now owns 2,831,528 shares of the company’s stock worth $44,710,000 after buying an additional 197,114 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in Paramount Global by 25.2% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 75,100 shares of the company’s stock valued at $1,186,000 after buying an additional 15,100 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Paramount Global by 29.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $557,000 after buying an additional 8,007 shares during the period. Finally, Raymond James & Associates bought a new stake in shares of Paramount Global during the fourth quarter worth $205,000. 5.98% 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.