Barrington Research Brokers Increase Earnings Estimates for Paramount Global (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) – Analysts at Barrington Research upped their Q2 2024 earnings estimates for Paramount Global in a research report issued on Tuesday, July 23rd. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $0.12 per share for the quarter, up from their prior estimate of $0.11. 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 $0.30 EPS, Q4 2024 earnings at $0.21 EPS, FY2024 earnings at $1.25 EPS, Q1 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.46 EPS, FY2025 earnings at $1.59 EPS and FY2026 earnings at $2.11 EPS.

PARA has been the subject of several other reports. The Goldman Sachs Group initiated coverage on shares of Paramount Global in a report on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price objective for the company. Needham & Company LLC cut Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Wells Fargo & Company cut shares of Paramount Global from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $14.00 to $9.00 in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lowered their price objective on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Finally, Argus lowered shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Eleven analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.83.

Paramount Global Stock Down 1.6 %

PARA stock opened at $11.46 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm’s 50-day simple moving average is $11.32 and its 200 day simple moving average is $11.97. The stock has a market cap of $7.64 billion, a PE ratio of -76.39, a price-to-earnings-growth ratio of 0.77 and a beta of 1.78. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

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

Institutional Trading of Paramount Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PARA. Vanguard Group Inc. raised its stake in Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after purchasing an additional 3,803,928 shares during the last quarter. Ariel Investments LLC grew its position in Paramount Global by 9.3% during the first quarter. Ariel Investments LLC now owns 12,049,689 shares of the company’s stock worth $141,825,000 after buying an additional 1,028,314 shares in the last quarter. Kodai Capital Management LP raised its holdings in Paramount Global by 9.2% in the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company’s stock valued at $73,732,000 after acquiring an additional 527,897 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Paramount Global by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock worth $38,698,000 after acquiring an additional 225,191 shares during the period. Finally, Lingotto Investment Management LLP raised its stake in shares of Paramount Global by 375.8% in the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock valued at $48,388,000 after purchasing an additional 2,577,978 shares in the last quarter. Institutional investors and hedge funds 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.