Paramount Skydance (NASDAQ:PSKY) Sets New 1-Year Low – Time to Sell?

Paramount Skydance Corporation (NASDAQ:PSKY) hit a new 52-week low during trading on Monday . The stock traded as low as $8.56 and last traded at $8.6150, with a volume of 3936807 shares traded. The stock had previously closed at $8.75.

Wall Street Analysts Forecast Growth

PSKY has been the topic of a number of recent analyst reports. Guggenheim lowered their target price on shares of Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a report on Wednesday, June 24th. Wells Fargo & Company dropped their price objective on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 5th. Arete Research reiterated a “sell” rating and issued a $2.00 target price on shares of Paramount Skydance in a research report on Thursday, July 9th. Finally, Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and increased their target price for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $12.00.

Paramount Skydance Trading Down 0.2%

The firm has a market capitalization of $9.78 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. The firm’s 50-day simple moving average is $10.09 and its 200-day simple moving average is $10.67. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 1.16.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The business had revenue of $7.35 billion for the quarter. During the same period last year, the firm earned $0.22 earnings per share. Equities analysts expect that Paramount Skydance Corporation will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On Paramount Skydance

Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Paramount Skydance by 0.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 140,776 shares of the company’s stock worth $1,886,000 after purchasing an additional 900 shares in the last quarter. CWM LLC grew its position in shares of Paramount Skydance by 20.3% in the 4th quarter. CWM LLC now owns 5,759 shares of the company’s stock worth $77,000 after buying an additional 970 shares during the period. Pittenger & Anderson Inc. grew its position in shares of Paramount Skydance by 18.0% in the 1st quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the company’s stock worth $59,000 after buying an additional 1,000 shares during the period. Mather Group LLC. increased its stake in shares of Paramount Skydance by 6.3% in the 4th quarter. Mather Group LLC. now owns 17,137 shares of the company’s stock worth $230,000 after acquiring an additional 1,009 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Paramount Skydance by 0.6% in the 4th quarter. LSV Asset Management now owns 188,868 shares of the company’s stock worth $2,531,000 after acquiring an additional 1,116 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

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.