Paramount Skydance Corporation (NASDAQ:PSKY) Receives $12.77 Average Target Price from Brokerages

Paramount Skydance Corporation (NASDAQ:PSKY) has been given an average rating of “Reduce” by the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.7692.

A number of brokerages have commented on PSKY. Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $11.00 to $14.00 in a research note on Thursday, April 30th. Guggenheim reduced their price target on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research note on Friday, March 27th. Finally, Wells Fargo & Company reduced their price target on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 5th.

Paramount Skydance Price Performance

Shares of NASDAQ:PSKY opened at $10.46 on Friday. The business’s fifty day moving average price is $10.24 and its two-hundred day moving average price is $12.02. The stock has a market cap of $11.71 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 0.78 and a beta of 1.43. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.10. Paramount Skydance has a one year low of $8.61 and a one year high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Monday, May 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. The firm 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 last year, the company posted $0.22 EPS. On average, analysts forecast that Paramount Skydance will post 0.54 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

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 paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Paramount Skydance’s dividend payout ratio is currently 35.09%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CYBER HORNET ETFs LLC purchased a new position in shares of Paramount Skydance during the 3rd quarter worth $25,000. Kelleher Financial Advisors purchased a new position in shares of Paramount Skydance in the 3rd quarter worth $32,000. Center for Financial Planning Inc. purchased a new position in shares of Paramount Skydance in the 3rd quarter worth $35,000. Versant Capital Management Inc purchased a new position in shares of Paramount Skydance in the 3rd quarter worth $39,000. Finally, Addison Advisors LLC purchased a new position in shares of Paramount Skydance in the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

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.