Paramount Skydance (NASDAQ:PSKY) Given New $8.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target on Paramount Skydance to $8.00 from $10.00 and maintained an "underweight" rating, signaling roughly a 12.6% downside from the prior close.
• Analyst sentiment is broadly negative — one Buy, five Hold and nine Sell — resulting in an average rating of Strong Sell and an average target price of $12.85.
• Shares traded around $9.16 (market cap ≈ $10.18B); the company reported a quarter with a one-off $999 EPS print (vs. -$0.02 expected), $8.15B revenue (slightly below estimates), a -2.15% net margin, and roughly 73% ownership by institutional investors.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) had its price target reduced by equities researchers at Wells Fargo & Company from $10.00 to $8.00 in a report released on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential downside of 12.62% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim upped their price objective on shares of Paramount Skydance from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, March 3rd. Bank of America lowered their price target on shares of Paramount Skydance from $13.00 to $11.00 and set an "underperform" rating for the company in a research note on Tuesday, March 10th. Wolfe Research restated an "underperform" rating and set a $13.00 price target on shares of Paramount Skydance in a research report on Monday, December 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Paramount Skydance in a research note on Friday, March 27th. Finally, TD Cowen lowered their target price on Paramount Skydance from $15.00 to $13.00 and set a "hold" rating for the company in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Strong Sell" and an average target price of $12.85.

Paramount Skydance Price Performance

Shares of Paramount Skydance stock traded down $0.10 during trading on Thursday, hitting $9.16. 1,637,142 shares of the stock traded hands, compared to its average volume of 11,551,038. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 0.37 and a beta of 1.37. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 1.03. Paramount Skydance has a 52 week low of $8.61 and a 52 week high of $20.86. The firm's fifty day moving average is $10.56 and its 200-day moving average is $13.74.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $999.00 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $999.02. The business had revenue of $8.15 billion for the quarter, compared to analysts' expectations 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

A number of hedge funds have recently modified their holdings of PSKY. MTCO Ltd. purchased a new position in Paramount Skydance during the third quarter valued at $26,488,000. New York State Teachers Retirement System purchased a new stake in shares of Paramount Skydance in the 3rd quarter worth about $6,980,000. Evergreen Capital Management LLC bought a new position in shares of Paramount Skydance in the 3rd quarter worth about $3,696,000. Chilton Investment Co. Inc. bought a new position in shares of Paramount Skydance in the 3rd quarter worth about $2,994,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Paramount Skydance during the 3rd quarter valued at about $6,093,000. Hedge funds and other institutional investors 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.

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