Brokerages Set Paramount Skydance Corporation (NASDAQ:PSKY) Target Price at $12.77

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) have received an average rating of “Reduce” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $12.7692.

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Wednesday, June 24th. Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and raised their target price for the company from $11.00 to $14.00 in a report on Thursday, April 30th. Wells Fargo & Company dropped their price target on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Guggenheim reduced their price objective on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Finally, Bank of America dropped their target price on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 10th.

Paramount Skydance Stock Performance

NASDAQ:PSKY opened at $9.94 on Friday. The firm has a market capitalization of $11.12 billion, a PE ratio of 17.44, a PEG ratio of 0.75 and a beta of 1.43. Paramount Skydance has a 1 year low of $8.61 and a 1 year high of $20.86. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The firm’s fifty day simple moving average is $10.31 and its 200 day simple moving average is $10.90.

Paramount Skydance (NASDAQ:PSKY) last released its earnings results on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter. During the same period in the prior year, the firm earned $0.22 EPS. On average, sell-side analysts anticipate that Paramount Skydance will post 0.55 EPS for the current year.

Paramount Skydance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, June 15th. Paramount Skydance’s dividend payout ratio (DPR) is currently 35.09%.

Institutional Investors Weigh In On Paramount Skydance

Several hedge funds have recently made changes to their positions in PSKY. CYBER HORNET ETFs LLC bought a new position in shares of Paramount Skydance during the 3rd quarter worth approximately $25,000. Kelleher Financial Advisors bought a new stake in Paramount Skydance in the third quarter valued at $32,000. Huntington National Bank grew its position in Paramount Skydance by 108.2% in the fourth 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 period. Larson Financial Group LLC raised its stake in Paramount Skydance by 539.3% during the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock worth $31,000 after acquiring an additional 1,936 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Paramount Skydance by 317.3% during the fourth quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock worth $38,000 after acquiring an additional 2,177 shares in the last quarter. 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.