Benchmark Cuts Paramount Skydance (NASDAQ:PSKY) Price Target to $16.00

Paramount Skydance (NASDAQ:PSKY) had its price target cut by Benchmark from $19.00 to $16.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

PSKY has been the subject of several other reports. UBS Group reduced their price objective on Paramount Skydance from $10.00 to $8.00 and set a “sell” rating for the company in a report on Wednesday. Guggenheim lowered their target price on shares of 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 reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a report on Wednesday, June 24th. Wells Fargo & Company reduced their price target on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 5th. Finally, Morgan Stanley raised shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $11.00 to $14.00 in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $11.38.

Paramount Skydance Stock Performance

Shares of PSKY opened at $9.19 on Wednesday. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 0.59 and a beta of 1.45. The business’s fifty day simple moving average is $9.50 and its two-hundred day simple moving average is $10.25. Paramount Skydance has a 12 month low of $7.62 and a 12 month high of $20.86. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.13.

Paramount Skydance (NASDAQ:PSKY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.03. The firm had revenue of $6.91 billion during the quarter. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%. Research analysts anticipate that Paramount Skydance will post 0.64 earnings per share for the current fiscal year.

Paramount Skydance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. Paramount Skydance’s dividend payout ratio is currently 35.09%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in shares of Paramount Skydance in the 3rd quarter worth approximately $25,000. Huntington National Bank grew its position in Paramount Skydance by 108.2% during the fourth quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after buying an additional 1,174 shares during the period. Larson Financial Group LLC increased its holdings in Paramount Skydance by 539.3% during the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after buying an additional 1,936 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in Paramount Skydance during the third quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC raised its position in Paramount Skydance by 317.3% in 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 during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

More Paramount Skydance News

Here are the key news stories impacting Paramount Skydance this week:

• Positive Sentiment: The U.K. Competition and Markets Authority approved Paramount Skydance’s acquisition of Warner Bros. Discovery, removing a major regulatory hurdle and improving the perceived probability of closing the transaction. UK Competition and Markets Authority Approves Paramount Skydance Corporation Acquisition of Warner Bros. Discovery
• Positive Sentiment: A federal judge dismissed a consumer lawsuit challenging the Paramount-Warner Bros. Discovery deal, reducing one source of legal uncertainty. Judge Dismisses Consumer Lawsuit Challenging Warner Bros. Paramount Deal
• Positive Sentiment: Morgan Stanley initiated or reiterated a “Buy” view on PSKY, providing additional analyst support for the stock. Paramount Skydance Gets a Buy from Morgan Stanley
• Neutral Sentiment: Lionsgate CEO Jon Feltheimer endorsed the merger, arguing that prolonged uncertainty is harmful to the media industry. His comments support management but do not resolve the transaction’s legal obstacles. Paramount-WBD Deal Endorsed by Lionsgate CEO
• Negative Sentiment: The 12 state attorneys general challenging the merger said Paramount’s U.K. concessions strengthen their U.S. lawsuit, keeping a potentially significant closing risk in place. Paramount’s Warner Concessions Give Credibility to U.S. Lawsuit
• Negative Sentiment: Benchmark lowered its expectations for PSKY’s stock price, while Warner Bros. Discovery reported weaker quarterly revenue and profit, highlighting execution and asset-quality concerns surrounding the proposed combination. Benchmark Lowers Expectations for Paramount Skydance Stock

Paramount Skydance Company Profile

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.