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

Paramount Skydance Corporation (NASDAQ:PSKY) has been given a consensus rating of “Reduce” by the fifteen analysts that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.7692.

A number of equities analysts have recently weighed in on PSKY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research note on Friday, March 27th. Morgan Stanley raised shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $11.00 to $14.00 in a research note on Thursday, April 30th. Bank of America dropped their price target on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 10th. Guggenheim dropped their price target on shares of Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Finally, TD Cowen dropped their price target on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th.

Paramount Skydance Price Performance

PSKY opened at $10.30 on Wednesday. The stock has a fifty day moving average of $10.68 and a 200-day moving average of $11.40. The firm has a market capitalization of $11.53 billion, a P/E ratio of 18.07, a PEG ratio of 0.78 and a beta of 1.43. Paramount Skydance has a 12-month low of $8.61 and a 12-month high of $20.86. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 1.16.

Paramount Skydance (NASDAQ:PSKY) last released its earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The company had revenue of $7.35 billion during the quarter. During the same quarter in the previous year, the company earned $0.22 EPS. Equities analysts forecast that Paramount Skydance will post 0.55 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. Paramount Skydance’s dividend payout ratio is 35.09%.

Hedge Funds Weigh In On Paramount Skydance

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. bought a new stake in Paramount Skydance in the third quarter worth $678,726,000. State Street Corp bought a new stake in Paramount Skydance in the third quarter worth $524,371,000. Invesco Ltd. bought a new stake in Paramount Skydance in the third quarter worth $288,551,000. Barclays PLC bought a new stake in Paramount Skydance in the third quarter worth $258,196,000. Finally, Contrarius Group Holdings Ltd bought a new stake in Paramount Skydance in the third quarter worth $186,674,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Skydance Company Profile

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.