Paramount Skydance (NASDAQ:PSKY) Coverage Initiated by Analysts at Citizens Jmp

Key Points

• Citizens JMP initiated coverage of Paramount Skydance with an “outperform” rating and a $14 price target, implying 32.08% upside from the prior close.
• Analyst sentiment remains mixed to negative overall: four analysts rate the stock a Buy, five a Hold and eight a Sell, producing a consensus “Reduce” rating and an $11.57 target price.
• Paramount Skydance reported quarterly EPS of $0.18, beating estimates of $0.15, on $6.91 billion in revenue. Institutional investors own approximately 73% of the company, with several major firms recently initiating or increasing positions.

Stock analysts at Citizens Jmp started coverage on shares of Paramount Skydance (NASDAQ:PSKY - Get Free Report) in a research report issued on Monday, Briefing.com reports. The brokerage set an "outperform" rating and a $14.00 price target on the stock. Citizens Jmp's price objective indicates a potential upside of 32.08% from the company's previous close.

A number of other research analysts also recently issued reports on the company. UBS Group cut their price target on Paramount Skydance from $10.00 to $8.00 and set a "sell" rating on the stock in a report on Wednesday, August 5th. Weiss Ratings raised Paramount Skydance from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday, August 6th. TD Cowen cut their target price on Paramount Skydance from $13.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, August 5th. Arete Research reiterated a "sell" rating and issued a $2.00 target price on shares of Paramount Skydance in a report on Thursday, July 9th. Finally, Benchmark decreased their price target on shares of Paramount Skydance from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $11.57.

Paramount Skydance Price Performance

Shares of PSKY opened at $10.60 on Monday. The company has a 50 day moving average price of $9.62 and a 200-day moving average price of $10.13. Paramount Skydance has a fifty-two week low of $7.62 and a fifty-two week high of $20.86. The stock has a market capitalization of $11.89 billion, a PE ratio of 36.55, a PEG ratio of 1.01 and a beta of 1.50. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 1.04.

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

Institutional Investors Weigh In On Paramount Skydance

Large investors have recently modified their holdings of the business. State Street Corp purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at approximately $524,371,000. Invesco Ltd. acquired a new position in Paramount Skydance during the 3rd quarter valued at approximately $288,551,000. Contrarius Group Holdings Ltd increased its stake in Paramount Skydance by 52.9% during the 4th quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company's stock valued at $202,180,000 after purchasing an additional 5,221,622 shares in the last quarter. Amundi purchased a new position in shares of Paramount Skydance in the third quarter worth $80,539,000. Finally, Deutsche Bank AG raised its holdings in shares of Paramount Skydance by 185.9% in the fourth quarter. Deutsche Bank AG now owns 5,573,970 shares of the company's stock worth $74,691,000 after buying an additional 3,624,388 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

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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