Paramount Skydance (NASDAQ:PSKY) Shares Gap Down – What’s Next?

Paramount Skydance Corporation (NASDAQ:PSKY) shares gapped down prior to trading on Thursday . The stock had previously closed at $9.75, but opened at $9.25. Paramount Skydance shares last traded at $8.8950, with a volume of 4,033,663 shares.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSKY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research report on Wednesday, June 24th. Arete Research reissued a “sell” rating and issued a $2.00 price objective on shares of Paramount Skydance in a report on Thursday. Guggenheim cut their price objective on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $11.00 to $14.00 in a report on Thursday, April 30th. Finally, Wells Fargo & Company reduced their target price on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 5th. Two 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $12.00.

Paramount Skydance Price Performance

The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.10. The company’s fifty day moving average price is $10.29 and its 200 day moving average price is $10.88. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43.

Paramount Skydance (NASDAQ:PSKY) last released its quarterly earnings data on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. The firm had revenue of $7.35 billion for the quarter. During the same quarter last year, the company earned $0.22 EPS. Equities research analysts expect that Paramount Skydance Corporation will post 0.55 earnings per share for the current year.

Paramount Skydance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Monday, June 15th. Paramount Skydance’s dividend payout ratio is presently 35.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSKY. CYBER HORNET ETFs LLC bought a new position in shares of Paramount Skydance during the third quarter worth about $25,000. Kelleher Financial Advisors bought a new stake in Paramount Skydance during the third quarter worth approximately $32,000. Huntington National Bank boosted its stake in Paramount Skydance by 108.2% during the fourth quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after buying an additional 1,174 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Paramount Skydance by 539.3% during the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after purchasing an additional 1,936 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Paramount Skydance by 317.3% during the fourth quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock worth $38,000 after buying an additional 2,177 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

About Paramount Skydance

Paramount Skydance Media Group (Nasdaq: PSKY) is a media and entertainment company created through the proposed combination of Paramount Global’s filmed entertainment and streaming operations with Skydance Media, a privately held content studio. The combined business will encompass the development, production and distribution of feature films, television programming and digital content, drawing on a library of legacy Paramount Pictures franchises alongside Skydance’s blockbuster tentpoles and animation slate.