Paramount Skydance Corporation (NASDAQ:PSKY – Get Free Report) has been assigned an average rating of “Reduce” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $11.3846.
Several brokerages have recently weighed in on PSKY. UBS Group reduced their price target on Paramount Skydance from $10.00 to $8.00 and set a “sell” rating for the company in a research report on Wednesday, August 5th. Wells Fargo & Company cut their target price on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 5th. Arete Research reaffirmed a “sell” rating and set a $2.00 target price on shares of Paramount Skydance in a report on Thursday, July 9th. Benchmark decreased their price target on Paramount Skydance from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Paramount Skydance from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, August 6th.
Check Out Our Latest Analysis on PSKY
Paramount Skydance Price Performance
Paramount Skydance (NASDAQ:PSKY – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The business had revenue of $6.91 billion for the quarter. Paramount Skydance had a negative net margin of 2.13% and a positive return on equity of 4.11%. On average, sell-side analysts expect that Paramount Skydance will post 0.56 EPS for the current year.
Paramount Skydance Announces Dividend
The company also recently declared 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 1.8%. The ex-dividend date is Tuesday, September 15th. Paramount Skydance’s payout ratio is 68.97%.
Hedge Funds Weigh In On Paramount Skydance
A number of institutional investors have recently added to or reduced their stakes in PSKY. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Paramount Skydance by 0.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 140,776 shares of the company’s stock worth $1,886,000 after acquiring an additional 900 shares in the last quarter. CWM LLC raised its position in Paramount Skydance by 20.3% during the fourth quarter. CWM LLC now owns 5,759 shares of the company’s stock valued at $77,000 after purchasing an additional 970 shares in the last quarter. Pittenger & Anderson Inc. lifted its stake in Paramount Skydance by 18.0% during the first quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in Paramount Skydance by 6.9% during the second quarter. New Mexico Educational Retirement Board now owns 15,499 shares of the company’s stock worth $153,000 after purchasing an additional 1,000 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Paramount Skydance by 0.6% in the 4th quarter. LSV Asset Management now owns 188,868 shares of the company’s stock worth $2,531,000 after purchasing an additional 1,116 shares in the last quarter. 73.00% of the stock is currently owned by 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.
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