Paramount Skydance Corporation (NASDAQ:PSKY) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) have been assigned a consensus rating of “Reduce” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $12.7692.

PSKY has been the topic of a number of research analyst reports. Bank of America reduced their price target on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Tuesday, March 10th. Wells Fargo & Company reduced their price target on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 5th. Guggenheim reduced their target price on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. TD Cowen reduced their target price on Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Finally, Morgan Stanley upgraded Paramount Skydance from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $11.00 to $14.00 in a report on Thursday, April 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PSKY. Vanguard Group Inc. purchased a new position in shares of Paramount Skydance during the 3rd quarter worth approximately $678,726,000. State Street Corp purchased a new position in shares of Paramount Skydance during the 3rd quarter worth approximately $524,371,000. Invesco Ltd. purchased a new position in shares of Paramount Skydance during the 3rd quarter worth approximately $288,551,000. Barclays PLC purchased a new position in shares of Paramount Skydance during the 3rd quarter worth approximately $258,196,000. Finally, Contrarius Group Holdings Ltd purchased a new position in shares of Paramount Skydance during the 3rd quarter worth approximately $186,674,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Skydance Stock Down 2.2%

Shares of NASDAQ:PSKY opened at $9.89 on Friday. 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 $11.07 billion, a PE ratio of 17.35, a P/E/G ratio of 0.76 and a beta of 1.43. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.10 and a quick ratio of 1.00. The stock’s 50-day moving average is $10.33 and its 200 day moving average is $12.22.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The company had revenue of $7.35 billion for the quarter. During the same quarter in the prior year, the firm earned $0.22 EPS. Sell-side analysts anticipate that Paramount Skydance will post 0.55 EPS for the current year.

Paramount Skydance Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, June 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.0%. Paramount Skydance’s dividend payout ratio is 35.09%.

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.