Paramount Global (NASDAQ:PARAA – Free Report) – 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 – Get Free Report) 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 %
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.
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