Paramount Skydance (NASDAQ:PSKY) Reaches New 12-Month High - What's Next?

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. The stock had previously closed at $17.88.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Paramount Skydance from $12.00 to $8.00 and set an "underweight" rating on the stock in a research note on Friday, August 8th. Bank of America assumed coverage on shares of Paramount Skydance in a research note on Friday, September 5th. They set an "underperform" rating and a $11.00 price objective on the stock. Guggenheim reissued a "neutral" rating and set a $13.00 price objective on shares of Paramount Skydance in a research note on Friday, August 22nd. Seaport Res Ptn raised shares of Paramount Skydance from a "strong sell" rating to a "hold" rating in a research note on Friday, August 8th. Finally, Morgan Stanley reduced their price objective on shares of Paramount Skydance from $12.00 to $10.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Paramount Skydance presently has a consensus rating of "Strong Sell" and an average price target of $10.60.

Paramount Skydance Trading Down 1.6%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.21 and a current ratio of 1.39. The stock has a market capitalization of $12.55 billion, a PE ratio of -620.13, a price-to-earnings-growth ratio of 5.04 and a beta of 1.18.

Paramount Skydance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.05 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. Paramount Skydance's dividend payout ratio (DPR) is -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.