Paramount Skydance (NASDAQ:PSKY) Hits New 1-Year Low – Here’s What Happened

Paramount Skydance Corporation (NASDAQ:PSKY) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.05 and last traded at $8.14, with a volume of 1268074 shares traded. The stock had previously closed at $8.21.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Guggenheim dropped 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 report on Tuesday, May 5th. Wells Fargo & Company lowered their price target on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 5th. Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $11.00 to $14.00 in a research report on Thursday, April 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Wednesday, June 24th. Finally, Arete Research restated a “sell” rating and set a $2.00 price objective on shares of Paramount Skydance in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $12.00.

Paramount Skydance Stock Down 1.3%

The firm’s 50 day moving average price is $9.90 and its two-hundred day moving average price is $10.50. The firm has a market capitalization of $9.07 billion, a PE ratio of 14.22, a P/E/G ratio of 0.54 and a beta of 1.43. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 1.16.

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

Paramount Skydance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Paramount Skydance’s payout ratio is presently 35.09%.

Institutional Investors Weigh In On Paramount Skydance

A number of hedge funds have recently bought and sold shares of PSKY. CYBER HORNET ETFs LLC acquired a new stake in shares of Paramount Skydance during the third quarter worth approximately $25,000. Huntington National Bank boosted its stake in Paramount Skydance by 108.2% during the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after acquiring an additional 1,174 shares during the last quarter. Larson Financial Group LLC boosted its stake in Paramount Skydance by 539.3% during the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after acquiring an additional 1,936 shares during the last quarter. Kelleher Financial Advisors bought a new stake in shares of Paramount Skydance in the 3rd quarter worth about $32,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Paramount Skydance by 317.3% in the 4th quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock valued at $38,000 after purchasing an additional 2,177 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.