Paramount Skydance (NASDAQ:PSKY) Hits New 12-Month High - Time to Buy?

Key Points

• Paramount Skydance's stock reached a new 52-week high at $19.11, closing at $19.05 with significant trading volume of 7,010,897 shares.
• Despite the recent stock price increase, analysts have mixed opinions, with price targets ranging from $8.00 to $13.00 and an average rating of "Strong Sell."
• The company has announced a $0.05 quarterly dividend to be paid on October 1st, representing a dividend yield of 1.0% with a negative payout ratio.

Paramount Skydance Corporation (NASDAQ:PSKY - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $19.11 and last traded at $19.05, with a volume of 7010897 shares trading hands. The stock had previously closed at $17.88.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PSKY shares. Guggenheim reissued a "neutral" rating and issued a $13.00 price objective on shares of Paramount Skydance in a research note on Friday, August 22nd. Barclays dropped their price objective on shares of Paramount Skydance from $12.00 to $8.00 and set an "underweight" rating on the stock in a report on Friday, August 8th. Bank of America began coverage on shares of Paramount Skydance in a report on Friday, September 5th. They issued an "underperform" rating and a $11.00 price target on the stock. UBS Group set a $11.00 price target on shares of Paramount Skydance in a report on Friday, September 5th. Finally, Seaport Res Ptn upgraded shares of Paramount Skydance from a "strong sell" rating to a "hold" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Strong Sell" and a consensus price target of $10.60.

Paramount Skydance Trading Up 7.1%

The firm has a market capitalization of $12.91 billion, a PE ratio of -638.12, a P/E/G ratio of 4.78 and a beta of 1.18. The company has a current ratio of 1.39, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83.

Paramount Skydance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. Paramount Skydance's dividend payout ratio (DPR) is presently -666.67%.

About Paramount Skydance

Paramount Global is a media and entertainment company which creates premium content and experiences for audiences. The company's portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount , Pluto TV and Simon & Schuster, among others.

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