Paramount Skydance (NASDAQ:PSKY) Shares Down 6.6% - Here's What Happened

Key Points

• Paramount Skydance Corporation (NASDAQ:PSKY) experienced a 6.6% decline in stock price, trading as low as $13.67 during the session.
• Analysts have mixed views, with Seaport Res Ptn upgrading the stock to a "hold" while Barclays set a lower target price of $8.00 with an "underweight" rating.
• The company has a market cap of $9.51 billion and a negative PE ratio of -469.84, indicating financial challenges.

Paramount Skydance Corporation (NASDAQ:PSKY - Get Free Report)'s stock price was down 6.6% on Thursday . The stock traded as low as $13.67 and last traded at $14.01. Approximately 9,025,828 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 11,047,246 shares. The stock had previously closed at $15.00.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of Paramount Skydance from $12.00 to $8.00 and set an "underweight" rating for the company in a report on Friday, August 8th. Guggenheim assumed coverage on Paramount Skydance in a research report on Wednesday, August 13th. They set a "buy" rating and a $13.00 price target for the company. Finally, Seaport Res Ptn raised Paramount Skydance from a "strong sell" rating to a "hold" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.50.

Paramount Skydance Trading Down 0.1%

The stock has a market capitalization of $9.09 billion, a P/E ratio of 11.95, a PEG ratio of 3.49 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21.

Paramount Skydance Company Profile

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.