Bank of America Has Lowered Expectations for Paramount Skydance (NASDAQ:PSKY) Stock Price

Key Points

• Bank of America lowered its price target on Paramount Skydance (PSKY) from $13 to $11 and maintained an "underperform" rating, implying only about a 1.9% upside from the prior close.
• The analyst consensus is a "Strong Sell" (one Buy, five Hold, nine Sell) with a consensus price target of $13, signaling broad negative sentiment among brokers.
• PSKY traded at $10.80 (down $0.40) and sits below its 50-day ($11.61) and 200-day ($14.47) moving averages, with a 12-month range of $9.95–$20.86 and a market cap near $11.6 billion.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) had its target price dropped by equities research analysts at Bank of America from $13.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the stock. Bank of America's price objective suggests a potential upside of 1.90% from the company's previous close.

PSKY has been the subject of several other research reports. Sanford C. Bernstein increased their target price on Paramount Skydance from $11.00 to $12.00 and gave the company an "underperform" rating in a research note on Wednesday, November 12th. Wells Fargo & Company began coverage on shares of Paramount Skydance in a research note on Monday. They issued a "strong sell" rating and a $10.00 price objective on the stock. TD Cowen reduced their price target on shares of Paramount Skydance from $15.00 to $13.00 and set a "hold" rating for the company in a report on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Paramount Skydance in a research report on Monday, December 29th. Finally, Wolfe Research reissued an "underperform" rating and set a $13.00 target price on shares of Paramount Skydance in a research report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Strong Sell" and a consensus price target of $13.00.

Paramount Skydance Stock Performance

Paramount Skydance stock traded down $0.40 during trading hours on Tuesday, reaching $10.80. 4,467,274 shares of the company were exchanged, compared to its average volume of 10,980,575. Paramount Skydance has a 12 month low of $9.95 and a 12 month high of $20.86. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 1.03. The stock has a 50-day moving average of $11.61 and a 200 day moving average of $14.47. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 17.13 and a beta of 1.14.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $999.02. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.17 billion. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%.

Hedge Funds Weigh In On Paramount Skydance

Several hedge funds and other institutional investors have recently modified their holdings of PSKY. CYBER HORNET ETFs LLC bought a new stake in Paramount Skydance in the third quarter valued at $25,000. Kelleher Financial Advisors acquired a new stake in shares of Paramount Skydance in the 3rd quarter valued at $32,000. Center for Financial Planning Inc. bought a new stake in shares of Paramount Skydance in the 3rd quarter worth about $35,000. Versant Capital Management Inc acquired a new stake in shares of Paramount Skydance during the 3rd quarter worth about $39,000. Finally, Addison Advisors LLC acquired a new stake in shares of Paramount Skydance during the 3rd quarter worth about $42,000. Institutional investors own 73.00% of the company's stock.

Paramount Skydance Company Profile

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.

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