Paramount Skydance (NASDAQ:PSKY) Releases Earnings Results, Beats Expectations By $999.02 EPS

Paramount Skydance (NASDAQ:PSKYGet Free Report) released its quarterly earnings data on Wednesday. The company reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $999.02, reports. Paramount Skydance had a negative net margin of 0.95% and a positive return on equity of 3.95%.

Paramount Skydance Stock Down 2.2%

Shares of Paramount Skydance stock traded down $0.23 during trading on Wednesday, hitting $10.16. 13,210,892 shares of the stock were exchanged, compared to its average volume of 7,799,738. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 1.16. The firm’s 50-day moving average price is $11.88 and its 200 day moving average price is $14.57. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of -338.55 and a beta of 1.23. Paramount Skydance has a 12-month low of $9.95 and a 12-month high of $20.86.

Paramount Skydance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, March 16th. Paramount Skydance’s payout ratio is -666.67%.

Institutional Trading of Paramount Skydance

Institutional investors have recently bought and sold shares of the business. State Street Corp purchased a new stake in Paramount Skydance during the third quarter worth approximately $524,371,000. Invesco Ltd. acquired a new stake in Paramount Skydance during the third quarter worth approximately $288,551,000. Amundi acquired a new stake in Paramount Skydance during the third quarter worth approximately $80,539,000. Deutsche Bank AG lifted its position in shares of Paramount Skydance by 185.9% during the 4th quarter. Deutsche Bank AG now owns 5,573,970 shares of the company’s stock worth $74,691,000 after buying an additional 3,624,388 shares during the last quarter. Finally, Northern Trust Corp purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at $49,858,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PSKY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a report on Monday, December 29th. Wells Fargo & Company raised their target price on Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Guggenheim reiterated a “neutral” rating and set a $16.00 price target on shares of Paramount Skydance in a report on Wednesday, November 12th. Finally, Evercore boosted their price objective on shares of Paramount Skydance from $12.00 to $14.00 and gave the company an “in-line” rating in a report on Tuesday, November 11th. One research analyst has 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, Paramount Skydance has a consensus rating of “Reduce” and an average price target of $14.00.

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Paramount Skydance Company Profile

(Get Free Report)

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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