Paramount Skydance (NASDAQ:PSKY) Reaches New 52-Week Low – Should You Sell?
by Kim Johansen · The Markets DailyParamount Skydance Corporation (NASDAQ:PSKY – Get Free Report)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $9.48 and last traded at $9.50, with a volume of 12728799 shares changing hands. The stock had previously closed at $9.72.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on PSKY. Bank of America reduced their target price on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 10th. Morgan Stanley boosted their target price on shares of Paramount Skydance from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Tuesday, December 9th. Guggenheim raised their price target on shares of Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Zacks Research upgraded shares of Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Finally, Wells Fargo & Company started coverage on shares of Paramount Skydance in a research report on Monday, March 9th. They issued a “strong sell” rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Paramount Skydance presently has an average rating of “Strong Sell” and a consensus price target of $13.00.
Get Our Latest Stock Report on Paramount Skydance
Paramount Skydance Price Performance
The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26. The firm has a fifty day simple moving average of $11.14 and a 200 day simple moving average of $14.20. The company has a market capitalization of $9.65 billion, a PE ratio of 14.29, a P/E/G ratio of 0.39 and a beta of 1.15.
Paramount Skydance (NASDAQ:PSKY – Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $999.02. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.17 billion. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%.
Paramount Skydance Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. Paramount Skydance’s dividend payout ratio is 31.75%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in PSKY. CYBER HORNET ETFs LLC purchased a new stake in shares of Paramount Skydance in the 3rd quarter worth approximately $25,000. Huntington National Bank increased its holdings in Paramount Skydance by 108.2% during the fourth quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after buying an additional 1,174 shares during the period. Larson Financial Group LLC raised its stake in Paramount Skydance by 539.3% in the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock worth $31,000 after buying an additional 1,936 shares in the last quarter. Kelleher Financial Advisors bought a new position in Paramount Skydance in the third quarter worth approximately $32,000. Finally, Center for Financial Planning Inc. purchased a new stake in Paramount Skydance during the third quarter worth $35,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.
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.