Hsbc Holdings PLC Boosts Stake in Paramount Skydance Corporation $PSKY

Key Points

• HSBC Holdings PLC increased its stake in Paramount Skydance by 23.9% in the fourth quarter, buying 105,218 more shares and bringing its total to 545,576 shares valued at about $7.3 million.
• Paramount Skydance beat earnings expectations in its latest quarterly report, posting EPS of $0.23 versus the $0.15 consensus estimate on revenue of $7.35 billion.
• Analyst sentiment remains cautious overall: the stock has a consensus rating of “Reduce” with a target price of $12.77, though some firms have recently raised or lowered their outlooks.

Hsbc Holdings PLC grew its position in shares of Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) by 23.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 545,576 shares of the company's stock after acquiring an additional 105,218 shares during the quarter. Hsbc Holdings PLC owned about 0.05% of Paramount Skydance worth $7,312,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PSKY. Victory Capital Management Inc. acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at about $1,914,000. Dimensional Fund Advisors LP acquired a new stake in Paramount Skydance during the 3rd quarter worth approximately $33,860,000. Orion Porfolio Solutions LLC purchased a new position in Paramount Skydance in the third quarter valued at approximately $735,000. Gamco Investors INC. ET AL purchased a new position in Paramount Skydance in the third quarter valued at approximately $1,993,000. Finally, First Trust Advisors LP acquired a new position in Paramount Skydance during the third quarter valued at approximately $15,877,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Skydance Stock Performance

Shares of Paramount Skydance stock opened at $9.75 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.10. Paramount Skydance Corporation has a 1 year low of $8.61 and a 1 year high of $20.86. The firm's 50-day simple moving average is $10.29 and its 200-day simple moving average is $10.88. The firm has a market cap of $10.91 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The business had revenue of $7.35 billion during the quarter. During the same quarter last year, the business posted $0.22 earnings per share. Equities analysts forecast that Paramount Skydance Corporation will post 0.55 earnings per share for the current fiscal year.

Paramount Skydance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a $0.05 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. Paramount Skydance's dividend payout ratio (DPR) is presently 35.09%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSKY. Guggenheim decreased their price objective on shares of Paramount Skydance from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Paramount Skydance in a report on Wednesday, June 24th. Morgan Stanley raised shares of Paramount Skydance from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $11.00 to $14.00 in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lowered their price target on Paramount Skydance from $8.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, May 5th. Two 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, the stock has a consensus rating of "Reduce" and a consensus target price of $12.77.

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.

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