Paramount Skydance Corporation (NASDAQ:PSKY) Receives Consensus Rating of “Reduce” from Analysts

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) have been given an average rating of “Reduce” by the sixteen analysts that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.00.

Several research firms have recently weighed in on PSKY. Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $11.00 to $14.00 in a report on Thursday, April 30th. Wells Fargo & Company cut their price target on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Guggenheim reduced their price objective on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Arete Research reissued a “sell” rating and issued a $2.00 price objective on shares of Paramount Skydance in a report on Thursday, July 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research report on Wednesday, June 24th.

Institutional Investors Weigh In On Paramount Skydance

Several hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB increased its position in Paramount Skydance by 10.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 318,400 shares of the company’s stock valued at $3,139,000 after acquiring an additional 30,200 shares during the period. Gradient Investments LLC acquired a new stake in Paramount Skydance during the 2nd quarter worth approximately $2,062,000. Czech National Bank grew its stake in shares of Paramount Skydance by 6.1% in the 2nd quarter. Czech National Bank now owns 89,782 shares of the company’s stock valued at $885,000 after purchasing an additional 5,141 shares during the last quarter. MTCO Ltd. grew its stake in shares of Paramount Skydance by 21.4% in the 2nd quarter. MTCO Ltd. now owns 7,650,000 shares of the company’s stock valued at $75,429,000 after purchasing an additional 1,350,000 shares during the last quarter. Finally, CX Institutional increased its holdings in shares of Paramount Skydance by 38.1% in the second quarter. CX Institutional now owns 4,612 shares of the company’s stock valued at $45,000 after purchasing an additional 1,273 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Skydance Trading Down 1.5%

NASDAQ PSKY opened at $7.95 on Thursday. The firm’s fifty day moving average price is $9.79 and its 200 day moving average price is $10.41. Paramount Skydance has a 12 month low of $7.82 and a 12 month high of $20.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.10 and a quick ratio of 1.00. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. The firm had revenue of $7.35 billion during the quarter. During the same period last year, the firm earned $0.22 earnings per share. On average, sell-side analysts expect that Paramount Skydance will post 0.62 earnings per share for the current fiscal year.

Paramount Skydance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. Paramount Skydance’s payout ratio is currently 35.09%.

About Paramount Skydance

Paramount Skydance Media Group (Nasdaq: PSKY) is a media and entertainment company created through the proposed combination of Paramount Global’s filmed entertainment and streaming operations with Skydance Media, a privately held content studio. The combined business will encompass the development, production and distribution of feature films, television programming and digital content, drawing on a library of legacy Paramount Pictures franchises alongside Skydance’s blockbuster tentpoles and animation slate.