Paramount Skydance (NASDAQ:PSKY) Trading Down 5% – Here’s Why

by · The Cerbat Gem

Paramount Skydance Corporation (NASDAQ:PSKY – Get Free Report)’s stock price was down 5% on Wednesday . The company traded as low as $14.96 and last traded at $15.03. Approximately 1,924,505 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 10,490,695 shares. The stock had previously closed at $15.82.

Analyst Ratings Changes

A number of brokerages have weighed in on PSKY. Wall Street Zen upgraded Paramount Skydance to a “hold” rating in a research note on Saturday, November 15th. JPMorgan Chase & Co. raised their price objective on shares of Paramount Skydance from $10.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, November 4th. Evercore ISI upped their target price on shares of Paramount Skydance from $12.00 to $14.00 and gave the company an “in-line” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research report on Monday. Finally, Bank of America boosted their price objective on Paramount Skydance from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, Paramount Skydance presently has an average rating of “Reduce” and an average target price of $13.91.

Check Out Our Latest Stock Report on PSKY

Paramount Skydance Stock Down 9.8%

The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 1.00. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of -445.52 and a beta of 1.16. The firm has a 50-day moving average price of $16.51.

Paramount Skydance (NASDAQ:PSKY – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.37). The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.79 billion. Paramount Skydance had a negative net margin of 0.95% and a positive return on equity of 3.95%. Paramount Skydance’s revenue for the quarter was up 0% on a year-over-year basis. During the same period last year, the business posted $0.49 earnings per share.

Hedge Funds Weigh In On Paramount Skydance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in shares of Paramount Skydance during the 3rd quarter valued at $25,000. Kelleher Financial Advisors acquired a new stake in shares of Paramount Skydance in the third quarter worth about $32,000. Center for Financial Planning Inc. bought a new stake in Paramount Skydance during the third quarter worth approximately $35,000. Versant Capital Management Inc bought a new stake in shares of Paramount Skydance during the 3rd quarter worth $39,000. Finally, Addison Advisors LLC acquired a new stake in shares of Paramount Skydance in the third quarter valued at about $42,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

About Paramount Skydance

(Get Free Report)

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.

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