Paramount Skydance Corporation (NASDAQ:PSKY) Receives Average Rating of “Reduce” from Analysts

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) have earned an average rating of “Reduce” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.3846.

Several equities research analysts have recently commented on the company. Benchmark reduced their target price on Paramount Skydance from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Weiss Ratings raised Paramount Skydance from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Arete Research restated a “sell” rating and set a $2.00 price objective on shares of Paramount Skydance in a report on Thursday, July 9th. TD Cowen reduced their price objective on shares of Paramount Skydance from $13.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, August 5th. Finally, UBS Group decreased their target price 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.

Paramount Skydance Trading Up 0.7%

Paramount Skydance stock opened at $10.88 on Monday. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 37.52, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45. Paramount Skydance has a 1 year low of $7.62 and a 1 year high of $20.86. The firm’s 50 day moving average price is $9.46 and its two-hundred day moving average price is $10.14. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 1.04.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $6.91 billion during the quarter. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%. On average, research analysts predict that Paramount Skydance will post 0.56 EPS for the current fiscal 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 given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 15th. Paramount Skydance’s dividend payout ratio is 68.97%.

Hedge Funds Weigh In On Paramount Skydance

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSKY. State Street Corp acquired a new stake in Paramount Skydance during the 3rd quarter valued at $524,371,000. Invesco Ltd. acquired a new stake in shares of Paramount Skydance in the third quarter worth $288,551,000. Contrarius Group Holdings Ltd grew its holdings in shares of Paramount Skydance by 52.9% during the fourth quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company’s stock valued at $202,180,000 after buying an additional 5,221,622 shares in the last quarter. Amundi purchased a new position in shares of Paramount Skydance during the third quarter valued at $80,539,000. Finally, Deutsche Bank AG grew its holdings in shares of Paramount Skydance by 185.9% during the fourth quarter. Deutsche Bank AG now owns 5,573,970 shares of the company’s stock valued at $74,691,000 after buying an additional 3,624,388 shares in the last quarter. 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.