Legal & General Group Plc lifted its position in shares of Paramount Skydance Corporation (NASDAQ:PSKY – Free Report) by 14.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 796,272 shares of the company’s stock after acquiring an additional 102,574 shares during the quarter. Legal & General Group Plc’s holdings in Paramount Skydance were worth $10,670,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in PSKY. Vanguard Group Inc. purchased a new stake in Paramount Skydance during the 3rd quarter worth about $678,726,000. State Street Corp purchased a new stake in Paramount Skydance during the 3rd quarter worth about $524,371,000. Invesco Ltd. purchased a new stake in Paramount Skydance during the 3rd quarter worth about $288,551,000. Barclays PLC purchased a new stake in Paramount Skydance during the 3rd quarter worth about $258,196,000. Finally, Contrarius Group Holdings Ltd purchased a new stake in Paramount Skydance during the 3rd quarter worth about $186,674,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on PSKY shares. Bank of America dropped their price objective on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Tuesday, March 10th. Guggenheim dropped their price objective 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 dropped their price objective on Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Wells Fargo & Company dropped their price objective on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 5th. Finally, Zacks Research raised Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $12.77.
Paramount Skydance Stock Performance
NASDAQ:PSKY opened at $10.45 on Thursday. The business’s 50-day moving average price is $10.45 and its two-hundred day moving average price is $11.73. Paramount Skydance Corporation has a twelve month low of $8.61 and a twelve month high of $20.86. The stock has a market cap of $11.70 billion, a P/E ratio of 18.33, a PEG ratio of 0.82 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 – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $7.35 billion for the quarter. During the same period in the previous year, the business earned $0.22 EPS. As a group, equities analysts predict that Paramount Skydance Corporation will post 0.54 EPS for the current fiscal year.
Paramount Skydance Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.9%. Paramount Skydance’s dividend payout ratio (DPR) is presently 35.09%.
Paramount Skydance 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.
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