Paramount Skydance (NASDAQ:PSKY) Trading Down 6.6% - Here's Why

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) fell 6.6% during trading on Thursday . The company traded as low as $13.67 and last traded at $14.01. 9,025,828 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 11,047,246 shares. The stock had previously closed at $15.00.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Seaport Res Ptn raised shares of Paramount Skydance from a "strong sell" rating to a "hold" rating in a research report on Friday, August 8th. Barclays cut their target price on shares of Paramount Skydance from $12.00 to $8.00 and set an "underweight" rating for the company in a research note on Friday, August 8th. Finally, Guggenheim began coverage on shares of Paramount Skydance in a research note on Wednesday. They issued a "buy" rating and a $13.00 price objective for the company.

Paramount Skydance Stock Down 6.0%

The company has a market cap of $9.51 billion, a PE ratio of -469.84, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.21 and a current ratio of 1.39.

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.

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