Paramount Skydance Corporation (NASDAQ:PSKY) Given Average Rating of “Reduce” by Brokerages

Paramount Skydance Corporation (NASDAQ:PSKY) has earned a consensus rating of “Reduce” from the sixteen analysts that are presently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.00.

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

Paramount Skydance Stock Down 1.5%

Shares of NASDAQ:PSKY opened at $7.95 on Thursday. Paramount Skydance has a fifty-two week low of $7.82 and a fifty-two week 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. The firm’s 50-day simple moving average is $9.79 and its 200-day simple moving average is $10.41. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.53 and a beta of 1.43.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.23 EPS 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 quarter in the previous year, the business earned $0.22 EPS. As a group, equities research analysts predict that Paramount Skydance will post 0.62 earnings per share for the current year.

Paramount Skydance Dividend Announcement

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

Hedge Funds Weigh In On Paramount Skydance

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Paramount Skydance by 0.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 140,776 shares of the company’s stock valued at $1,886,000 after buying an additional 900 shares in the last quarter. CWM LLC boosted its position in shares of Paramount Skydance by 20.3% in the 4th quarter. CWM LLC now owns 5,759 shares of the company’s stock worth $77,000 after buying an additional 970 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in Paramount Skydance by 18.0% in the 1st quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the company’s stock valued at $59,000 after acquiring an additional 1,000 shares during the last quarter. LSV Asset Management grew its stake in Paramount Skydance by 0.6% in the 4th quarter. LSV Asset Management now owns 188,868 shares of the company’s stock valued at $2,531,000 after acquiring an additional 1,116 shares during the last quarter. Finally, Huntington National Bank increased its holdings in 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. 73.00% of the stock is owned by institutional investors and hedge funds.

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.