Brokerages Set Paramount Skydance Corporation (NASDAQ:PSKY) Target Price at $12.43

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) have received a consensus rating of “Strong Sell” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.4286.

A number of equities research analysts have recently commented on the stock. Morgan Stanley dropped 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. Bank of America assumed coverage on shares of Paramount Skydance in a research report on Friday, September 5th. They set an “underperform” rating and a $11.00 price target on the stock. Barclays decreased their price objective on shares of Paramount Skydance from $12.00 to $8.00 and set an “underweight” rating for the company in a research report on Friday, August 8th. Guggenheim restated a “neutral” rating and set a $13.00 target price on shares of Paramount Skydance in a research report on Friday, August 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Paramount Skydance in a research note on Wednesday, October 8th.

Paramount Skydance Stock Down 2.6%

Paramount Skydance stock opened at $15.46 on Tuesday. The business’s 50-day moving average is $17.06. 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 firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of -515.16, a price-to-earnings-growth ratio of 4.24 and a beta of 1.26. Paramount Skydance has a 52 week low of $9.95 and a 52 week high of $20.86.

Paramount Skydance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, September 15th. Paramount Skydance’s dividend payout ratio is presently -666.67%.

Institutional Investors Weigh In On Paramount Skydance

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank Pictet & Cie Europe AG acquired a new stake in Paramount Skydance in the 3rd quarter worth about $47,983,000. SG Americas Securities LLC acquired a new position in Paramount Skydance in the 3rd quarter valued at about $9,370,000. TB Alternative Assets Ltd. purchased a new position in Paramount Skydance in the third quarter worth approximately $7,363,000. New York State Teachers Retirement System purchased a new position in shares of Paramount Skydance during the 3rd quarter worth $6,980,000. Finally, Exchange Traded Concepts LLC purchased a new position in Paramount Skydance during the third quarter worth about $4,595,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.