Paramount Skydance (NASDAQ:PSKY) Hits New 1-Year Low - Here's What Happened

Key Points

• Paramount Skydance shares fell to a new 52-week low of $8.05 during Monday trading, below the prior close of $8.21.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with 9 Sell, 5 Hold and 2 Buy ratings, and an average price target of $12.00.
• The company beat quarterly EPS expectations, reporting $0.23 versus the $0.15 consensus on $7.35 billion in revenue, while declaring a $0.05 quarterly dividend for a 2.5% annualized yield.

Shares of Paramount Skydance Corporation (NASDAQ:PSKY - Get Free Report) reached a new 52-week low during mid-day 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PSKY shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Paramount Skydance in a report on Wednesday, June 24th. Arete Research reissued a "sell" rating and issued a $2.00 target price on shares of Paramount Skydance in a report on Thursday, July 9th. Morgan Stanley raised shares of Paramount Skydance from an "underweight" rating to an "overweight" rating and increased their price objective for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Guggenheim reduced their price target on shares of Paramount Skydance from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. Finally, Wells Fargo & Company lowered their price target on shares of Paramount Skydance from $8.00 to $7.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, Paramount Skydance presently has a consensus rating of "Reduce" and an average target price of $12.00.

Paramount Skydance Stock Performance

The firm has a market cap of $9.07 billion, a PE ratio of 14.22, a P/E/G ratio of 0.54 and a beta of 1.43. The stock has a 50-day moving average price of $9.90 and a 200 day moving average price of $10.50. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.10 and a quick ratio of 1.00.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.08. The firm had revenue of $7.35 billion for the quarter. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.During the same period in the previous year, the business posted $0.22 earnings per share. Research analysts forecast that Paramount Skydance Corporation will post 0.62 earnings per share for the current year.

Paramount Skydance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.5%. Paramount Skydance's payout ratio is currently 35.09%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. State Street Corp acquired a new stake in Paramount Skydance during the third quarter worth about $524,371,000. Invesco Ltd. acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at about $288,551,000. Contrarius Group Holdings Ltd grew its holdings in shares of Paramount Skydance by 52.9% during the 4th quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company's stock worth $202,180,000 after purchasing an additional 5,221,622 shares during the period. Amundi purchased a new stake in shares of Paramount Skydance during the 3rd quarter worth about $80,539,000. Finally, Deutsche Bank AG grew its holdings in shares of Paramount Skydance by 185.9% during the 4th quarter. Deutsche Bank AG now owns 5,573,970 shares of the company's stock worth $74,691,000 after purchasing an additional 3,624,388 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

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.

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