Paramount Skydance Corporation (NASDAQ:PSKY) Receives $12.77 Consensus Price Target from Brokerages

Paramount Skydance Corporation (NASDAQ:PSKY) has earned a consensus recommendation of “Reduce” from the fifteen ratings firms that are covering the company, Marketbeat reports. Eight 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 updated their coverage on the stock in the last year is $12.7692.

PSKY has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 5th. Morgan Stanley raised shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $11.00 to $14.00 in a report on Thursday, April 30th. TD Cowen cut their price objective on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a report on Friday, March 27th. Finally, Bank of America cut their price objective 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.

Paramount Skydance News Summary

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

• Positive Sentiment: The U.S. Department of Justice reportedly approved Paramount Skydance’s planned acquisition of Warner Bros. Discovery, saying the deal is not likely to harm competition or consumers. This reduces a key antitrust risk and improves the odds the transaction can move forward. US Justice Department approves Paramount’s acquisition of Warner Bros, Politico reports
• Positive Sentiment: Australian regulators also granted approval, adding to the momentum behind the deal and signaling that additional international review may be progressing in Paramount Skydance’s favor. Paramount Skydance Gains ACCC Approval for Warner Merger
• Neutral Sentiment: Paramount also extended the expiration dates on its related debt tender and exchange offers tied to the Warner transaction, indicating the company is still working through financing and closing steps while the deal process continues. Paramount Skydance Corporation Announces Extension of Expiration Dates of Previously Announced Exchange Offers and Tender Offers
• Neutral Sentiment: Despite the DOJ clearance, the deal still needs approval from European regulators, so the stock may continue to trade on headlines about remaining regulatory milestones. Justice Department Clears Paramount-Warner Bros. Discovery Deal

Paramount Skydance Stock Performance

PSKY opened at $10.47 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The company’s fifty day moving average price is $10.64 and its two-hundred day moving average price is $11.50. Paramount Skydance has a 1-year low of $8.61 and a 1-year high of $20.86. The company has a market cap of $11.72 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.78 and a beta of 1.43.

Paramount Skydance (NASDAQ:PSKY) last released its quarterly earnings data on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 for the quarter. During the same quarter in the previous year, the company posted $0.22 EPS. On average, analysts expect that Paramount Skydance will post 0.55 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

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

Hedge Funds Weigh In On Paramount Skydance

A number of hedge funds have recently bought and sold shares of the company. Summitry LLC purchased a new position in Paramount Skydance during the 1st quarter worth $92,000. Western Wealth Management LLC purchased a new position in Paramount Skydance during the 1st quarter worth $61,000. Amundi boosted its holdings in Paramount Skydance by 27.2% during the 1st quarter. Amundi now owns 1,149,109 shares of the company’s stock worth $10,365,000 after acquiring an additional 245,556 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Paramount Skydance by 32.6% during the 1st quarter. California State Teachers Retirement System now owns 372,216 shares of the company’s stock worth $3,357,000 after acquiring an additional 91,528 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Paramount Skydance by 16.2% in the 1st quarter. Royal Bank of Canada now owns 479,313 shares of the company’s stock worth $4,323,000 after buying an additional 66,870 shares during the last quarter. 73.00% of the stock is 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.