Paramount Skydance (NASDAQ:PSKY) Stock Price Up 4% – Here’s Why

Paramount Skydance Corporation (NASDAQ:PSKY) was up 4% during mid-day trading on Monday. The stock traded as high as $10.40 and last traded at $10.36. Approximately 4,620,728 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 11,980,374 shares. The stock had previously closed at $9.96.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group cut their price target on shares of Paramount Skydance from $10.00 to $8.00 and set a “sell” rating for the company in a report on Wednesday, August 5th. TD Cowen dropped their target price on Paramount Skydance from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, August 5th. Arete Research reaffirmed a “sell” rating and issued a $2.00 price objective on shares of Paramount Skydance in a research note on Thursday, July 9th. Morgan Stanley boosted their price objective on shares of Paramount Skydance from $10.00 to $11.50 and gave the stock an “overweight” rating in a research note on Tuesday, September 22nd. Finally, Weiss Ratings raised Paramount Skydance from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, Paramount Skydance has a consensus rating of “Reduce” and a consensus target price of $11.17.

Paramount Skydance Stock Performance

The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 0.95 and a beta of 1.50. The stock’s 50 day moving average price is $9.82 and its 200 day moving average price is $10.04. The company has a current ratio of 1.04, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13.

Paramount Skydance (NASDAQ:PSKY) last released its earnings results on Tuesday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%.The firm had revenue of $6.91 billion for the quarter. Analysts expect that Paramount Skydance Corporation will post 0.56 earnings per share for the current year.

Paramount Skydance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 annualized dividend and a yield of 2.0%. Paramount Skydance’s payout ratio is presently 68.97%.

Institutional Trading of Paramount Skydance

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Paramount Skydance during the second quarter valued at $75,000. IFP Advisors Inc increased its holdings in Paramount Skydance by 11.6% during the 2nd quarter. IFP Advisors Inc now owns 50,934 shares of the company’s stock worth $502,000 after purchasing an additional 5,294 shares during the period. Arizona State Retirement System boosted its stake in shares of Paramount Skydance by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 89,455 shares of the company’s stock valued at $882,000 after buying an additional 1,077 shares during the period. Nykredit A S purchased a new stake in shares of Paramount Skydance during the second quarter worth approximately $150,000. Finally, Brown Financial Advisors purchased a new stake in shares of Paramount Skydance during the 2nd quarter worth $175,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Company Profile

Paramount Skydance Corporation (NASDAQ: PSKY) is a global media and entertainment company formed through the combination of Paramount Global and Skydance Media. The company develops, produces and distributes feature films, television programming and other video content for audiences in the United States and international markets.

Its portfolio includes Paramount Pictures, CBS, Nickelodeon, MTV, Comedy Central, BET, Showtime and other well-known entertainment brands. Paramount Skydance also operates streaming services including Paramount+ and Pluto TV, as well as businesses involved in television broadcasting, news, sports and content licensing.

The company’s history includes Paramount Pictures, one of Hollywood’s longstanding film studios, and Skydance Media, a production company founded in 2010 by David Ellison.