Paramount Skydance (NASDAQ:PSKY) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Paramount Skydance (NASDAQ:PSKY) in a research note released on Monday. The brokerage issued an underweight rating and a $10.00 price objective on the stock.

A number of other research analysts have also commented on the company. Morgan Stanley upped their price target on Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Tuesday, December 9th. Benchmark raised their price objective on shares of Paramount Skydance from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. TD Cowen cut their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Guggenheim increased their price target on shares of Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Finally, Wolfe Research restated an “underperform” rating and issued a $13.00 price target on shares of Paramount Skydance in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, Paramount Skydance currently has an average rating of “Strong Sell” and a consensus target price of $13.15.

Paramount Skydance Price Performance

PSKY opened at $11.19 on Monday. The stock has a fifty day moving average price of $11.61 and a 200 day moving average price of $14.47. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 1.03. Paramount Skydance has a 1 year low of $9.95 and a 1 year high of $20.86. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 17.76 and a beta of 1.14.

Paramount Skydance (NASDAQ:PSKY) last issued its earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $999.02. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%.The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.17 billion.

Paramount Skydance Announces Dividend

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 issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, March 16th. Paramount Skydance’s dividend payout ratio (DPR) is presently 31.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new stake in Paramount Skydance in the 3rd quarter valued at $25,000. Kelleher Financial Advisors bought a new stake in Paramount Skydance in the third quarter valued at about $32,000. Center for Financial Planning Inc. acquired a new position in Paramount Skydance in the third quarter worth about $35,000. Versant Capital Management Inc bought a new position in Paramount Skydance during the third quarter worth about $39,000. Finally, Addison Advisors LLC acquired a new stake in Paramount Skydance during the third quarter valued at approximately $42,000. 73.00% of the stock is 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.