Paramount Skydance (NASDAQ:PSKY) Issues Quarterly Earnings Results

Paramount Skydance (NASDAQ:PSKYGet Free Report) announced its quarterly earnings data on Wednesday. The company reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $999.02, reports. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.65%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.17 billion.

Paramount Skydance Stock Up 22.9%

Shares of NASDAQ:PSKY traded up $2.56 during trading on Friday, hitting $13.74. 60,097,419 shares of the company’s stock traded hands, compared to its average volume of 9,241,581. The company has a 50-day moving average price of $11.78 and a 200-day moving average price of $14.51. Paramount Skydance has a 52 week low of $9.95 and a 52 week high of $20.86. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 21.47 and a beta of 1.23. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 1.00.

Paramount Skydance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.20 annualized dividend and a yield of 1.5%. Paramount Skydance’s dividend payout ratio (DPR) is presently 31.25%.

Analyst Ratings Changes

PSKY has been the topic of a number of analyst reports. TD Cowen decreased their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday. Bank of America boosted their price objective on Paramount Skydance from $11.00 to $13.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 11th. Guggenheim reiterated a “neutral” rating and set a $16.00 price objective on shares of Paramount Skydance in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Monday, December 29th. Finally, Evercore boosted their price objective on Paramount Skydance from $12.00 to $14.00 and gave the company an “in-line” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $13.92.

Check Out Our Latest Analysis on Paramount Skydance

Paramount Skydance News Summary

Here are the key news stories impacting Paramount Skydance this week:

Hedge Funds Weigh In On Paramount Skydance

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp bought a new stake in Paramount Skydance in the 3rd quarter valued at $524,371,000. Invesco Ltd. bought a new position in Paramount Skydance during the 3rd quarter valued at approximately $288,551,000. Amundi purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at approximately $80,539,000. Deutsche Bank AG lifted its holdings in shares of Paramount Skydance by 185.9% during the fourth quarter. Deutsche Bank AG now owns 5,573,970 shares of the company’s stock valued at $74,691,000 after purchasing an additional 3,624,388 shares during the last quarter. Finally, Northern Trust Corp purchased a new stake in shares of Paramount Skydance in the 3rd quarter worth approximately $49,858,000. 73.00% of the stock is owned by institutional investors.

About Paramount Skydance

(Get Free Report)

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.

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