Paramount Skydance (NASDAQ:PSKY) Hits New 1-Year Low – What’s Next?

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) hit a new 52-week low during trading on Tuesday . The company traded as low as $9.48 and last traded at $9.50, with a volume of 12728799 shares traded. The stock had previously closed at $9.72.

Analysts Set New Price Targets

PSKY has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 9th. Wells Fargo & Company assumed coverage on Paramount Skydance in a research note on Monday, March 9th. They issued a “strong sell” rating and a $10.00 price objective on the stock. Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Wolfe Research reaffirmed an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Skydance in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average price target of $13.00.

Paramount Skydance Stock Performance

The firm’s fifty day moving average price is $11.27 and its 200 day moving average price is $14.27. The firm has a market cap of $10.18 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 0.41 and a beta of 1.15. 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 released its quarterly earnings data on Wednesday, February 25th. The company reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $999.02. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.17 billion.

Paramount Skydance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Paramount Skydance’s dividend payout ratio is currently 31.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CYBER HORNET ETFs LLC purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at $25,000. Huntington National Bank lifted its stake 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 worth $30,000 after purchasing an additional 1,174 shares during the last quarter. Larson Financial Group LLC boosted its position in Paramount Skydance by 539.3% during the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after purchasing an additional 1,936 shares in the last quarter. Kelleher Financial Advisors bought a new stake in Paramount Skydance during the third quarter valued at about $32,000. Finally, Center for Financial Planning Inc. purchased a new position in Paramount Skydance in the third quarter valued at about $35,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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.