Paramount Global (NASDAQ:PARAA) Forecasted to Post FY2024 Earnings of $1.96 Per Share

Paramount Global (NASDAQ:PARAA) – Investment analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for shares of Paramount Global in a research report issued to clients and investors on Thursday, October 3rd. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings of $1.96 per share for the year, up from their previous forecast of $1.91. The consensus estimate for Paramount Global’s current full-year earnings is $1.96 per share. Seaport Res Ptn also issued estimates for Paramount Global’s Q4 2024 earnings at $0.40 EPS, FY2026 earnings at $2.31 EPS, FY2027 earnings at $2.24 EPS and FY2028 earnings at $2.96 EPS.

Paramount Global Price Performance

Shares of PARAA stock opened at $22.14 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of -147.60 and a beta of 1.66. The stock has a 50-day moving average price of $22.37 and a 200 day moving average price of $21.60. Paramount Global has a 12 month low of $13.40 and a 12 month high of $26.34.

Paramount Global (NASDAQ:PARAA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.36. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.55 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%.

Institutional Trading of Paramount Global

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Paramount Global by 708.2% in the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $28,000 after acquiring an additional 1,126 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Paramount Global by 416.3% during the 1st quarter. Russell Investments Group Ltd. now owns 2,592 shares of the company’s stock worth $57,000 after purchasing an additional 2,090 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Paramount Global by 5.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company’s stock worth $239,000 after buying an additional 537 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of Paramount Global in the 4th quarter valued at about $284,000. Finally, Welch Group LLC bought a new stake in Paramount Global in the second quarter valued at approximately $298,000. Institutional investors own 5.98% of the company’s stock.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.90%. Paramount Global’s dividend payout ratio (DPR) is presently -133.33%.

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.