Paramount Skydance (NASDAQ:PSKY) Trading Down 4.3% – Time to Sell?

Paramount Skydance Corporation (NASDAQ:PSKY) shares dropped 4.3% during mid-day trading on Thursday . The stock traded as low as $10.66 and last traded at $10.6650. Approximately 2,104,234 shares were traded during mid-day trading, a decline of 81% from the average session volume of 10,833,511 shares. The stock had previously closed at $11.14.

Wall Street Analyst Weigh In

PSKY has been the subject of several recent research reports. Citizens Jmp initiated coverage on Paramount Skydance in a research report on Monday. They set a “market outperform” rating and a $14.00 price objective for the company. Benchmark reduced their price target on Paramount Skydance from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Arete Research reaffirmed a “sell” rating and set a $2.00 price target on shares of Paramount Skydance in a research note on Thursday, July 9th. Citigroup began coverage on shares of Paramount Skydance in a report on Monday. They set an “outperform” rating for the company. Finally, Barclays began coverage on shares of Paramount Skydance in a research note on Thursday. They issued an “underweight” rating and a $8.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $11.33.

Paramount Skydance Price Performance

The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 1.05 and a beta of 1.50. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 1.04. The company has a 50-day simple moving average of $9.69 and a two-hundred day simple moving average of $10.14.

Paramount Skydance (NASDAQ:PSKY) last released its earnings results on Tuesday, August 4th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $6.91 billion during the quarter. Paramount Skydance had a negative net margin of 2.13% and a positive return on equity of 4.11%. As a group, equities research analysts forecast that Paramount Skydance Corporation will post 0.56 EPS for the current year.

Paramount Skydance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, September 15th. Paramount Skydance’s dividend payout ratio is 68.97%.

Hedge Funds Weigh In On Paramount Skydance

Institutional investors and hedge funds have recently modified their holdings of the stock. Pittenger & Anderson Inc. increased its position in shares of Paramount Skydance by 18.0% in the first quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the company’s stock worth $59,000 after purchasing an additional 1,000 shares during the period. New Mexico Educational Retirement Board lifted its position in Paramount Skydance by 6.9% during the second quarter. New Mexico Educational Retirement Board now owns 15,499 shares of the company’s stock worth $153,000 after purchasing an additional 1,000 shares during the period. Arizona State Retirement System grew its stake in Paramount Skydance by 1.2% during the second quarter. Arizona State Retirement System now owns 89,455 shares of the company’s stock worth $882,000 after buying an additional 1,077 shares in the last quarter. LSV Asset Management increased its holdings in Paramount Skydance by 0.6% in the 4th quarter. LSV Asset Management now owns 188,868 shares of the company’s stock valued at $2,531,000 after buying an additional 1,116 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of 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 acquiring an additional 1,174 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Skydance Company Profile

Paramount Skydance Corporation (NASDAQ: PSKY) is a global media and entertainment company formed through the combination of Paramount Global and Skydance Media. The company develops, produces and distributes feature films, television programming and other video content for audiences in the United States and international markets.

Its portfolio includes Paramount Pictures, CBS, Nickelodeon, MTV, Comedy Central, BET, Showtime and other well-known entertainment brands. Paramount Skydance also operates streaming services including Paramount+ and Pluto TV, as well as businesses involved in television broadcasting, news, sports and content licensing.

The company’s history includes Paramount Pictures, one of Hollywood’s longstanding film studios, and Skydance Media, a production company founded in 2010 by David Ellison.