What is Seaport Res Ptn’s Estimate for PARA FY2024 Earnings?

Paramount Global (NASDAQ:PARA) – Stock analysts at Seaport Res Ptn increased their FY2024 earnings per share estimates for shares of Paramount Global in a report released on Sunday, November 10th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will earn $2.25 per share for the year, up from their previous forecast of $1.96. The consensus estimate for Paramount Global’s current full-year earnings is $1.61 per share. Seaport Res Ptn also issued estimates for Paramount Global’s Q4 2024 earnings at $0.60 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $0.93 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $3.48 EPS and FY2026 earnings at $4.10 EPS.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share.

Several other equities analysts have also weighed in on the company. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Macquarie restated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a report on Monday. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday. Guggenheim reduced their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Paramount Global currently has a consensus rating of “Hold” and an average target price of $12.40.

Paramount Global Stock Performance

Paramount Global stock opened at $11.45 on Wednesday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The firm’s fifty day simple moving average is $10.57 and its 200-day simple moving average is $11.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.75%. Paramount Global’s dividend payout ratio is currently -2.43%.

Hedge Funds Weigh In On Paramount Global

A number of hedge funds have recently made changes to their positions in the business. Lingotto Investment Management LLP increased its stake in Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after acquiring an additional 25,829,185 shares during the period. Vanguard Group Inc. raised its holdings in shares of Paramount Global by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after buying an additional 3,803,928 shares in the last quarter. Capitolis Liquid Global Markets LLC bought a new position in shares of Paramount Global during the 1st quarter worth approximately $33,191,000. Jane Street Group LLC boosted its stake in Paramount Global by 323.5% in the 1st quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock valued at $32,417,000 after buying an additional 2,103,938 shares in the last quarter. Finally, Ariel Investments LLC grew its position in Paramount Global by 16.5% in the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after acquiring an additional 1,992,576 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.