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

Paramount Global (NASDAQ:PARA) – Stock analysts at Barrington Research boosted their Q2 2024 earnings estimates for Paramount Global in a research note issued to investors on Tuesday, July 23rd. Barrington Research analyst J. Goss now expects that the company will earn $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.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of Paramount Global in a research note on Tuesday, June 25th. They set a “sell” rating and a $9.50 price objective for the company. Wells Fargo & Company lowered 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 note on Wednesday, June 12th. Seaport Res Ptn downgraded shares of Paramount Global from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $14.00 price target on shares of Paramount Global in a research report on Tuesday, June 4th. Eleven investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.83.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $11.46 on Friday. The stock has a market capitalization of $7.64 billion, a P/E ratio of -76.39, a price-to-earnings-growth ratio of 0.77 and a beta of 1.78. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The business’s 50 day simple moving average is $11.32 and its two-hundred day simple moving average is $11.97.

Paramount Global (NASDAQ:PARA) last released 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 analysts’ expectations of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS.

Hedge Funds Weigh In On Paramount Global

A number of large investors have recently bought and sold shares of PARA. Archer Investment Corp purchased a new position in Paramount Global in the fourth quarter valued at about $30,000. Friedenthal Financial acquired a new stake in Paramount Global in the fourth quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. purchased a new position in Paramount Global in the fourth quarter worth $44,000. SageView Advisory Group LLC acquired a new position in shares of Paramount Global during the first quarter worth $56,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Paramount Global during the 4th quarter valued at $59,000. 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.