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Paramount Skydance (PSKY) Surges 10.7%: Is This an Indication of Further Gains?
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Paramount Skydance (PSKY - Free Report) shares rallied 10.7% in the last trading session to close at $10.9. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12% loss over the past four weeks.
PSKY shares are benefitting from accelerating direct-to-consumer momentum, a strengthening content slate, robust UFC partnership traction and management's reaffirmed full-year revenue and profitability outlook.
This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of -24.1%. Revenues are expected to be $7.24 billion, up 0.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Paramount Skydance, the consensus EPS estimate for the quarter has been revised 6.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PSKY going forward to see if this recent jump can turn into more strength down the road.
Paramount Skydance is part of the Zacks Media Conglomerates industry. Liberty Media Corporation - Liberty Formula One Series C (FWONK - Free Report) , another stock in the same industry, closed the last trading session 0.4% higher at $86.5. FWONK has returned 2.1% in the past month.
Liberty Media Corporation - Liberty Formula One Series C's consensus EPS estimate for the upcoming report has changed -52.4% over the past month to -$0.07. Compared to the company's year-ago EPS, this represents a change of -240%. Liberty Media Corporation - Liberty Formula One Series C currently boasts a Zacks Rank of #3 (Hold).
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Paramount Skydance (PSKY) Surges 10.7%: Is This an Indication of Further Gains?
Paramount Skydance (PSKY - Free Report) shares rallied 10.7% in the last trading session to close at $10.9. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12% loss over the past four weeks.
PSKY shares are benefitting from accelerating direct-to-consumer momentum, a strengthening content slate, robust UFC partnership traction and management's reaffirmed full-year revenue and profitability outlook.
This company is expected to post quarterly earnings of $0.22 per share in its upcoming report, which represents a year-over-year change of -24.1%. Revenues are expected to be $7.24 billion, up 0.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Paramount Skydance, the consensus EPS estimate for the quarter has been revised 6.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PSKY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Paramount Skydance is part of the Zacks Media Conglomerates industry. Liberty Media Corporation - Liberty Formula One Series C (FWONK - Free Report) , another stock in the same industry, closed the last trading session 0.4% higher at $86.5. FWONK has returned 2.1% in the past month.
Liberty Media Corporation - Liberty Formula One Series C's consensus EPS estimate for the upcoming report has changed -52.4% over the past month to -$0.07. Compared to the company's year-ago EPS, this represents a change of -240%. Liberty Media Corporation - Liberty Formula One Series C currently boasts a Zacks Rank of #3 (Hold).