Paramount Skydance (NASDAQ:PSKY) Issues Earnings Results

Paramount Skydance (NASDAQ:PSKYGet Free Report) posted its earnings results on Monday. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08, Zacks reports. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%. The firm had revenue of $7.35 billion for the quarter. During the same period in the previous year, the firm earned $0.22 earnings per share.

Paramount Skydance Price Performance

PSKY opened at $11.13 on Tuesday. The firm has a market cap of $12.37 billion, a P/E ratio of 17.67, a PEG ratio of 0.56 and a beta of 1.43. The firm has a 50-day moving average of $10.51 and a 200 day moving average of $12.58. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26. Paramount Skydance has a fifty-two week low of $8.61 and a fifty-two week high of $20.86.

Paramount Skydance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.05 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. Paramount Skydance’s dividend payout ratio is currently 31.75%.

Key Paramount Skydance News

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

Hedge Funds Weigh In On Paramount Skydance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC bought a new position in Paramount Skydance during the third quarter worth about $25,000. Daiwa Securities Group Inc. boosted its position in shares of Paramount Skydance by 6.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 23,874 shares of the company’s stock valued at $320,000 after acquiring an additional 1,551 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Paramount Skydance by 5.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 33,214 shares of the company’s stock valued at $445,000 after acquiring an additional 1,627 shares during the period. Kelleher Financial Advisors bought a new position in shares of Paramount Skydance in the third quarter valued at approximately $32,000. Finally, Great Valley Advisor Group Inc. boosted its position in shares of Paramount Skydance by 13.6% in the fourth quarter. Great Valley Advisor Group Inc. now owns 14,524 shares of the company’s stock valued at $195,000 after acquiring an additional 1,741 shares during the period. Institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PSKY shares. TD Cowen reduced their price objective on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Bank of America reduced their price objective on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 10th. Zacks Research raised shares of Paramount Skydance from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research note on Friday, March 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Paramount Skydance from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $13.00.

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Paramount Skydance Company Profile

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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.

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