Paramount Skydance (NASDAQ:PSKY) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo & Company initiated coverage on Paramount Skydance with an underweight rating and a $10 price target, implying roughly an 11.5% downside from the prior close.
• Analyst consensus is weak — 1 Buy, 5 Hold and 9 Sell — giving an average rating of Strong Sell and a consensus target of $13.15; the stock traded at $11.30 with a market cap of $12.11B.
• In the latest quarter the company reported an EPS of $999.00 (versus a -$0.02 estimate) while revenue was $8.15B versus $8.17B expected, and the firm showed a negative net margin of 2.15%.

Research analysts at Wells Fargo & Company began coverage on shares of Paramount Skydance (NASDAQ:PSKY - Get Free Report) in a research note issued to investors on Monday. The brokerage set an "underweight" rating and a $10.00 price target on the stock. Wells Fargo & Company's price target suggests a potential downside of 11.50% from the company's previous close.

Several other equities analysts have also issued reports on the stock. Bank of America lifted their price target on shares of Paramount Skydance from $11.00 to $13.00 and gave the stock an "underperform" rating in a report on Tuesday, November 11th. Benchmark increased their price objective on Paramount Skydance from $16.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, November 11th. Guggenheim raised their price objective on Paramount Skydance from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 3rd. TD Cowen dropped their target price on Paramount Skydance from $15.00 to $13.00 and set a "hold" rating on the stock in a research note on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Paramount Skydance in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Strong Sell" and a consensus target price of $13.15.

Paramount Skydance Price Performance

Shares of Paramount Skydance stock traded down $0.69 during trading hours on Monday, reaching $11.30. The company's stock had a trading volume of 1,942,561 shares, compared to its average volume of 10,893,613. The firm has a 50 day moving average price of $11.66 and a 200-day moving average price of $14.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.26 and a quick ratio of 1.12. The stock has a market cap of $12.11 billion, a P/E ratio of 17.94 and a beta of 1.14. Paramount Skydance has a one year low of $9.95 and a one year high of $20.86.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSKY. Hsbc Holdings PLC increased its position in shares of Paramount Skydance by 23.9% in the fourth quarter. Hsbc Holdings PLC now owns 545,576 shares of the company's stock valued at $7,312,000 after buying an additional 105,218 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Paramount Skydance during the 4th quarter valued at approximately $191,000. Invesco Ltd. grew its stake in Paramount Skydance by 1.0% in the 4th quarter. Invesco Ltd. now owns 15,406,791 shares of the company's stock valued at $206,451,000 after acquiring an additional 155,679 shares during the period. Corient Private Wealth LLC grew its stake in Paramount Skydance by 290.6% in the 4th quarter. Corient Private Wealth LLC now owns 59,588 shares of the company's stock valued at $798,000 after acquiring an additional 44,333 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Paramount Skydance by 390.5% in the 4th quarter. Mackenzie Financial Corp now owns 81,142 shares of the company's stock worth $1,094,000 after acquiring an additional 64,598 shares in the last quarter. Hedge funds and other 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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