Paramount Skydance (NASDAQ:PSKY) Shares Down 4.3% - Should You Sell?

Key Points

• Paramount Skydance shares fell 4.3% to about $10.67 in mid-day trading, with volume significantly below the stock’s average.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with nine Sell, five Hold and four Buy ratings, and a consensus price target of $11.33.
• The company exceeded quarterly EPS expectations, reporting $0.18 versus the $0.15 consensus estimate, while maintaining a quarterly dividend of $0.05 per share, or a 1.9% annualized yield.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PSKY shares. Barclays started coverage on Paramount Skydance in a research note on Thursday. They issued an "underweight" rating and a $8.00 price target on the stock. Benchmark decreased their price objective on Paramount Skydance from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Citizens Jmp began coverage on Paramount Skydance in a report on Monday. They issued a "market outperform" rating and a $14.00 price objective for the company. Weiss Ratings raised Paramount Skydance from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Finally, Arete Research restated a "sell" rating and set a $2.00 target price on shares of Paramount Skydance in a research report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, Paramount Skydance currently has a consensus rating of "Reduce" and a consensus price target of $11.33.

Paramount Skydance Trading Down 3.9%

The business's 50-day moving average price is $9.69 and its two-hundred day moving average price is $10.14. The company has a market capitalization of $12.01 billion, a P/E ratio of 36.91, a PEG ratio of 1.05 and a beta of 1.50. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.04 and a quick ratio of 0.88.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. The business had revenue of $6.91 billion for the quarter. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%. As a group, analysts forecast that Paramount Skydance Corporation will post 0.56 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. Paramount Skydance's dividend payout ratio (DPR) is currently 68.97%.

Hedge Funds Weigh In On Paramount Skydance

Several institutional investors and hedge funds have recently modified their holdings of PSKY. Huntington National Bank raised its holdings in 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 buying an additional 1,174 shares during the period. Larson Financial Group LLC increased its position in shares of Paramount Skydance by 539.3% during the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company's stock worth $31,000 after acquiring an additional 1,936 shares in the last quarter. Compass Financial Management LLC bought a new stake in shares of Paramount Skydance during the second quarter worth $42,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Paramount Skydance during the fourth quarter worth $45,000. Finally, CX Institutional raised its holdings in shares of Paramount Skydance by 38.1% during the second quarter. CX Institutional now owns 4,612 shares of the company's stock worth $45,000 after acquiring an additional 1,273 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.

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