Paramount Skydance (NASDAQ:PSKY) Shares Up 7.8% – Should You Buy?

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) traded up 7.8% during trading on Friday . The stock traded as high as $11.09 and last traded at $11.0340. 1,953,608 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 11,463,934 shares. The stock had previously closed at $10.24.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. TD Cowen lowered their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Wells Fargo & Company decreased their price target on shares of Paramount Skydance from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, April 2nd. Bank of America decreased their price target on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Tuesday, March 10th. Guggenheim lifted their price target on shares of Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Finally, Zacks Research upgraded shares of Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $13.00.

Paramount Skydance Stock Performance

The company has a market cap of $12.35 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 0.52 and a beta of 1.37. The stock’s fifty day simple moving average is $10.51 and its two-hundred day simple moving average is $12.65. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.10). The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.17 billion. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%. Equities research analysts anticipate that Paramount Skydance Corporation will post 0.79 EPS for the current year.

Paramount Skydance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, June 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. Paramount Skydance’s payout ratio is presently 31.75%.

Hedge Funds Weigh In On Paramount Skydance

Several hedge funds and other institutional investors have recently made changes to their positions in PSKY. CYBER HORNET ETFs LLC acquired a new position in shares of Paramount Skydance during the 3rd quarter valued at $25,000. Huntington National Bank lifted its holdings in shares of Paramount Skydance by 108.2% during the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after acquiring an additional 1,174 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Paramount Skydance by 539.3% during the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after acquiring an additional 1,936 shares in the last quarter. Kelleher Financial Advisors acquired a new position in shares of Paramount Skydance during the 3rd quarter valued at $32,000. Finally, Center for Financial Planning Inc. acquired a new position in shares of Paramount Skydance during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.