Paramount Shares Jump After Reports of Takeover Interest

Paramount Global shares surged Today following reports from Deadline and Puck News that Skydance and Redbird Capital were exploring potentially taking over the media giant.

Paramount’s controlling shareholder, Shari Redstone, has been open to making big deals, especially as the company weathers the storms of declining revenue and streaming losses.

Paramount shares were up more than 12%. The company has a market cap of about $10.5 billion and is up more than 1% for the year, lagging the S&P 500′s 19% gains.
PARA Trading above its 50-day and 200-day simple moving averages (SMA), indicating a bullish trend.

The earnings per share (EPS) of Paramount Global is expected to decline by 37.50% in the current quarter (Dec 2023) and increase by 333.30% in the next quarter (Mar 2024). The EPS for the current year (2023) is estimated to be $0.7, which is a 59.10% decrease from the previous year (2022). The EPS for the next year (2024) is projected to be $1.29, which is an 84.30% increase from the current year.

The revenue of Paramount Global is expected to decrease by 3.10% in the current quarter (Dec 2023) and increase by 9.00% in the next quarter (Mar 2024). The revenue for the current year (2023) is estimated to be $29.92 billion, which is a 0.80% decrease from the previous year (2022). The revenue for the next year (2024) is forecasted to be $31.36 billion, which is a 4.80% increase from the current year