Paramount Skydance (NASDAQ:PSKY) Announces Quarterly Earnings Results

Paramount Skydance (NASDAQ:PSKY) issued its quarterly earnings results on Monday. The company reported $999.00 earnings per share for the quarter, Zacks reports. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%.

Paramount Skydance Stock Performance

PSKY stock traded up $0.03 during trading on Monday, reaching $11.12. 8,912,722 shares of the company’s stock were exchanged, compared to its average volume of 11,542,097. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 1.03. Paramount Skydance has a 1-year low of $8.61 and a 1-year high of $20.86. The company’s fifty day moving average price is $10.51 and its 200-day moving average price is $12.58. The firm has a market cap of $12.36 billion, a PE ratio of 17.64, a P/E/G ratio of 0.56 and a beta of 1.43.

Paramount Skydance Announces Dividend

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 given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, June 15th. Paramount Skydance’s payout ratio is 31.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley upgraded Paramount Skydance from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $11.00 to $14.00 in a report on Thursday. Guggenheim boosted their price target on Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Wells Fargo & Company lowered their price target on Paramount Skydance from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Thursday, April 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Skydance in a report on Friday, March 27th. Finally, Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $13.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of Paramount Skydance in the 3rd quarter worth approximately $1,914,000. Dimensional Fund Advisors LP acquired a new stake in Paramount Skydance during the third quarter valued at approximately $33,860,000. Orion Porfolio Solutions LLC acquired a new stake in Paramount Skydance during the third quarter valued at approximately $735,000. First Trust Advisors LP bought a new stake in Paramount Skydance during the third quarter worth approximately $15,877,000. Finally, Natixis Advisors LLC acquired a new position in Paramount Skydance in the third quarter worth approximately $416,000. 73.00% of the stock is owned by institutional investors and hedge funds.

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.