Paramount Skydance (NASDAQ:PSKY) Hits New 12-Month Low – Here’s What Happened

Paramount Skydance Corporation (NASDAQ:PSKY)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $8.05 and last traded at $8.14, with a volume of 1268074 shares changing hands. The stock had previously closed at $8.21.

Analyst Ratings Changes

PSKY has been the subject of several research reports. 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 report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research report on Wednesday, June 24th. Guggenheim dropped their price objective 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. Morgan Stanley raised shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and upped their target price for the company from $11.00 to $14.00 in a report on Thursday, April 30th. Finally, Arete Research reiterated a “sell” rating and set a $2.00 target price on shares of Paramount Skydance in a research note on Thursday, July 9th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, Paramount Skydance has an average rating of “Reduce” and a consensus target price of $12.00.

Paramount Skydance Trading Up 0.5%

The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average of $9.83 and a two-hundred day moving average of $10.44. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 0.53 and a beta of 1.43.

Paramount Skydance (NASDAQ:PSKY) last released its earnings results on Monday, May 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.15 by $0.08. The company had revenue of $7.35 billion during the quarter. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. During the same quarter last year, the business posted $0.22 EPS. On average, research analysts expect that Paramount Skydance Corporation will post 0.62 EPS for the current year.

Paramount Skydance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.05 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. Paramount Skydance’s dividend payout ratio (DPR) is presently 35.09%.

Hedge Funds Weigh In On Paramount Skydance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new stake in shares of Paramount Skydance in the 3rd quarter valued at approximately $1,914,000. Dimensional Fund Advisors LP acquired a new position in Paramount Skydance during the third quarter worth $33,860,000. Orion Porfolio Solutions LLC purchased a new position in Paramount Skydance in the third quarter worth $735,000. First Trust Advisors LP purchased a new position in Paramount Skydance in the third quarter worth $15,877,000. Finally, Natixis Advisors LLC acquired a new stake in Paramount Skydance in the third quarter valued at $416,000. Institutional investors and hedge funds own 73.00% of the company’s 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.