Brokerages Set Paramount Skydance Corporation (NASDAQ:PSKY) Price Target at $13.00

Paramount Skydance Corporation (NASDAQ:PSKY) has earned a consensus rating of “Strong Sell” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $13.00.

Several analysts have issued reports on PSKY shares. Zacks Research raised Paramount Skydance from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Wells Fargo & Company began coverage on Paramount Skydance in a research report on Monday, March 9th. They set a “strong sell” rating and a $10.00 price objective for the company. Wolfe Research reiterated an “underperform” rating and set a $13.00 price objective on shares of Paramount Skydance in a report on Monday, December 15th. Guggenheim boosted their target price on Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Finally, Bank of America cut their target price on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 10th.

Paramount Skydance Stock Performance

Shares of NASDAQ:PSKY opened at $8.79 on Friday. Paramount Skydance has a 12 month low of $8.61 and a 12 month high of $20.86. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $10.72 and its 200 day simple moving average is $13.90. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.36 and a beta of 1.14.

Paramount Skydance (NASDAQ:PSKY) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $999.00 EPS for the quarter, beating the consensus estimate of ($0.02) by $999.02. The business had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.17 billion. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%.

Paramount Skydance Announces Dividend

The firm 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. Paramount Skydance’s payout ratio is currently 31.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new stake in Paramount Skydance in the 3rd quarter valued at $678,726,000. State Street Corp bought a new stake in Paramount Skydance during the 3rd quarter worth about $524,371,000. Invesco Ltd. acquired a new position in shares of Paramount Skydance during the 3rd quarter worth about $288,551,000. Barclays PLC acquired a new position in shares of Paramount Skydance during the 3rd quarter worth about $258,196,000. Finally, Contrarius Group Holdings Ltd bought a new position in shares of Paramount Skydance in the 3rd quarter valued at about $186,674,000. 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.