Paramount Global (NASDAQ:PARAA - Free Report) - Analysts at Seaport Res Ptn cut their Q2 2024 earnings estimates for Paramount Global in a research report issued to clients and investors on Tuesday, April 30th. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $0.18 per share for the quarter, down from their previous estimate of $0.25. The consensus estimate for Paramount Global's current full-year earnings is $1.37 per share. Seaport Res Ptn also issued estimates for Paramount Global's FY2024 earnings at $1.25 EPS.
Paramount Global Stock Performance
PARAA traded down 3.68 during midday trading on Friday, reaching 22.42. The company had a trading volume of 221,100 shares, compared to its average volume of 77,172. Paramount Global has a 12-month low of 13.40 and a 12-month high of 26.34. The business has a 50-day moving average price of 21.83 and a two-hundred day moving average price of 19.77. The stock has a market cap of $14.63 billion, a PE ratio of -159.99 and a beta of 1.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.17 and a current ratio of 1.29.
Paramount Global (NASDAQ:PARAA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported 0.04 EPS for the quarter, missing analysts' consensus estimates of 0.08 by -0.04. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business had revenue of 7.64 billion for the quarter, compared to the consensus estimate of 7.89 billion. During the same quarter last year, the business posted $0.08 earnings per share.
Institutional Trading of Paramount Global
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake 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 purchasing an additional 1,126 shares in the last quarter. Raymond James & Associates bought a new stake in Paramount Global during the fourth quarter valued at $205,000. Allspring Global Investments Holdings LLC boosted its stake in Paramount Global by 5.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company's stock valued at $239,000 after buying an additional 537 shares during the period. SageView Advisory Group LLC purchased a new position in Paramount Global during the fourth quarter worth about $284,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in Paramount Global by 29.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company's stock worth $557,000 after acquiring an additional 8,007 shares during the last quarter. 5.98% of the stock is currently owned by institutional investors.
Paramount Global Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.89%. Paramount Global's payout ratio is -133.32%.
Paramount Global Company Profile
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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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