Seaport Res Ptn Weighs in on Paramount Global’s Q2 2024 Earnings (NASDAQ:PARAA)

Paramount Global (NASDAQ:PARAA) – Equities researchers at Seaport Res Ptn lowered their Q2 2024 earnings per share (EPS) estimates for shares of Paramount Global in a research report issued 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 prior forecast of $0.25. Seaport Res Ptn currently 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 (NASDAQ:PARAA) last announced its earnings results on Wednesday, February 28th. The company reported 0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of 0.08 by -0.04. The business had revenue of 7.64 billion for the quarter, compared to analyst estimates of 7.89 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. During the same period in the prior year, the company earned $0.08 earnings per share.

Paramount Global Stock Down 14.1 %

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

Paramount Global Dividend Announcement

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

Hedge Funds Weigh In On Paramount Global

A number of hedge funds have recently made changes to their positions in PARAA. Allspring Global Investments Holdings LLC boosted its position in shares of Paramount Global by 5.2% in 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 period. GAMMA Investing LLC boosted its holdings in Paramount Global by 708.2% in the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $28,000 after acquiring an additional 1,126 shares during the period. SageView Advisory Group LLC purchased a new position in Paramount Global in the 4th quarter worth approximately $284,000. Gamco Investors INC. ET AL grew its position in Paramount Global by 0.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,852,411 shares of the company’s stock valued at $56,078,000 after acquiring an additional 20,883 shares in the last quarter. Finally, Honeycomb Asset Management LP purchased a new stake in shares of Paramount Global during the fourth quarter valued at approximately $880,000. Hedge funds and other institutional investors own 5.98% 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.