Paramount Skydance (NASDAQ:PSKY) Now Covered by Analysts at Argus

Key Points

• Analysts at Argus initiated coverage of Paramount Skydance (NASDAQ:PSKY) with a "hold" rating and a price target of $17.00.
• The stock currently holds an average rating of "Strong Sell" from analysts, with a consensus target price of $11.83.
• Paramount Skydance's shares are down 5.4% and have a market capitalization of approximately $11.46 billion.

Research analysts at Argus assumed coverage on shares of Paramount Skydance (NASDAQ:PSKY - Get Free Report) in a report issued on Monday,Benzinga reports. The firm set a "hold" rating and a $17.00 price target on the stock.

A number of other equities analysts have also weighed in on the stock. Seaport Res Ptn upgraded shares of Paramount Skydance from a "strong sell" rating to a "hold" rating in a research report on Friday, August 8th. Guggenheim reiterated a "neutral" rating and set a $13.00 target price on shares of Paramount Skydance in a research report on Friday, August 22nd. Barclays cut their price objective on shares of Paramount Skydance from $12.00 to $8.00 and set an "underweight" rating for the company in a research report on Friday, August 8th. Morgan Stanley cut their price objective on shares of Paramount Skydance from $12.00 to $10.00 and set an "underweight" rating for the company in a research report on Wednesday, August 27th. Finally, Bank of America assumed coverage on shares of Paramount Skydance in a research report on Friday, September 5th. They issued an "underperform" rating and a $11.00 price objective for the company. Three analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Paramount Skydance currently has an average rating of "Strong Sell" and a consensus target price of $11.83.

Paramount Skydance Stock Down 5.4%

Shares of NASDAQ:PSKY opened at $17.00 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of -566.48, a PEG ratio of 4.54 and a beta of 1.26. Paramount Skydance has a twelve month low of $9.95 and a twelve month high of $20.86. The stock's 50-day simple moving average is $16.47.

Institutional Investors Weigh In On Paramount Skydance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC purchased a new stake in Paramount Skydance in the third quarter valued at approximately $758,000. AdvisorNet Financial Inc purchased a new stake in Paramount Skydance in the third quarter valued at approximately $97,000. Sound Income Strategies LLC purchased a new stake in Paramount Skydance in the third quarter valued at approximately $49,000. Czech National Bank purchased a new stake in Paramount Skydance in the third quarter valued at approximately $1,484,000. Finally, Wedmont Private Capital purchased a new stake in Paramount Skydance in the third quarter valued at approximately $261,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Company Profile

Paramount Global is a media and entertainment company which creates premium content and experiences for audiences. The company's portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount , Pluto TV and Simon & Schuster, among others.

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