Paramount Skydance (NASDAQ:PSKY) Reaches New 52-Week Low – Here’s Why

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) hit a new 52-week low during trading on Monday . The stock traded as low as $8.56 and last traded at $8.6150, with a volume of 3936807 shares. The stock had previously closed at $8.75.

Wall Street Analyst Weigh In

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

Paramount Skydance Trading Down 0.2%

The company’s 50 day moving average price is $10.00 and its 200 day moving average price is $10.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.10 and a quick ratio of 1.00. The firm has a market cap of $9.53 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. The firm had revenue of $7.35 billion for the quarter. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. During the same period in the previous year, the company earned $0.22 earnings per share. As a group, analysts forecast that Paramount Skydance Corporation will post 0.62 EPS for the current fiscal year.

Paramount Skydance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.3%. Paramount Skydance’s payout ratio is 35.09%.

Institutional Trading of Paramount Skydance

Hedge funds have recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new position in Paramount Skydance in the third quarter valued at $25,000. Huntington National Bank increased its holdings in Paramount Skydance by 108.2% during the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock worth $30,000 after purchasing an additional 1,174 shares during the period. Larson Financial Group LLC raised its position in Paramount Skydance by 539.3% in the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after purchasing an additional 1,936 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in Paramount Skydance in the 3rd quarter valued at about $32,000. Finally, Golden State Wealth Management LLC raised its position in Paramount Skydance by 317.3% in the 4th quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock valued at $38,000 after purchasing an additional 2,177 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.