Paramount Skydance Corporation (NASDAQ:PSKY) Given Consensus Recommendation of “Reduce” by Analysts

Paramount Skydance Corporation (NASDAQ:PSKY) has been assigned an average rating of “Reduce” from the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $12.00.

A number of research firms recently commented on PSKY. Wells Fargo & Company lowered their target price on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 5th. Morgan Stanley upgraded shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and upped their price target for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Guggenheim lowered their price objective on shares of Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a report on Wednesday, June 24th. Finally, Arete Research reissued a “sell” rating and issued a $2.00 target price on shares of Paramount Skydance in a research report on Thursday, July 9th.

Paramount Skydance Price Performance

Shares of NASDAQ PSKY opened at $8.22 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.10. The company has a market cap of $9.20 billion, a PE ratio of 14.42, a P/E/G ratio of 0.52 and a beta of 1.43. The business has a 50-day simple moving average of $9.64 and a two-hundred day simple moving average of $10.32. Paramount Skydance has a fifty-two week low of $7.62 and a fifty-two week high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. The business had revenue of $7.35 billion for the quarter. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, equities analysts expect that Paramount Skydance will post 0.62 EPS for the current fiscal year.

Paramount Skydance Announces Dividend

The company 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 dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 15th. Paramount Skydance’s payout ratio is presently 35.09%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PSKY. Victory Capital Management Inc. purchased a new stake in Paramount Skydance in the third quarter valued at approximately $1,914,000. Dimensional Fund Advisors LP acquired a new position in Paramount Skydance in the 3rd quarter worth approximately $33,860,000. Orion Porfolio Solutions LLC purchased a new position in Paramount Skydance during the 3rd quarter worth approximately $735,000. First Trust Advisors LP purchased a new position in Paramount Skydance during the 3rd quarter worth approximately $15,877,000. Finally, Natixis Advisors LLC acquired a new stake in Paramount Skydance during the 3rd quarter valued at approximately $416,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Skydance Company Profile

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.