Paramount Skydance's (PSKY) Sell Rating Reaffirmed at Arete Research

Key Points

• Arete Research reaffirmed a sell rating on Paramount Skydance and kept a $2.00 price target, implying substantial downside from the prior close.
• Other analysts were mixed: Wells Fargo and Guggenheim cut their price targets and maintained cautious ratings, while Morgan Stanley upgraded the stock to overweight. Overall, MarketBeat shows a consensus rating of “Reduce” with a $12.00 target.
• The stock was trading around $8.94, near its 52-week low, even after the company recently reported quarterly EPS of $0.23, which beat estimates.

Paramount Skydance (NASDAQ:PSKY - Get Free Report)'s stock had its "sell" rating reaffirmed by analysts at Arete Research in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $2.00 price target on the stock. Arete Research's price objective would suggest a potential downside of 77.62% from the company's previous close.

Several other research analysts also recently issued reports on PSKY. Wells Fargo & Company reduced their price objective on Paramount Skydance from $8.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, May 5th. Guggenheim decreased their price target on Paramount Skydance from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Paramount Skydance in a research report on Wednesday, June 24th. Finally, Morgan Stanley raised Paramount Skydance from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $11.00 to $14.00 in a report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $12.00.

Paramount Skydance Price Performance

NASDAQ:PSKY traded down $0.81 during mid-day trading on Thursday, hitting $8.94. The company's stock had a trading volume of 3,321,820 shares, compared to its average volume of 10,589,428. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 0.74 and a beta of 1.43. Paramount Skydance has a fifty-two week low of $8.61 and a fifty-two week high of $20.86. The stock has a fifty day moving average of $10.29 and a 200-day moving average of $10.88.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. The company had revenue of $7.35 billion during the quarter. During the same period in the previous year, the business posted $0.22 EPS. As a group, equities analysts forecast that Paramount Skydance will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Skydance

Institutional investors have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC acquired a new stake in shares of Paramount Skydance in the third quarter valued at approximately $25,000. Huntington National Bank grew its stake in shares of Paramount Skydance by 108.2% in the fourth quarter. Huntington National Bank now owns 2,259 shares of the company's stock valued at $30,000 after acquiring an additional 1,174 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Paramount Skydance by 539.3% in the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company's stock valued at $31,000 after acquiring an additional 1,936 shares in the last quarter. Kelleher Financial Advisors bought a new position in Paramount Skydance during the third quarter worth about $32,000. Finally, Golden State Wealth Management LLC increased its position in Paramount Skydance by 317.3% during the fourth quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company's stock worth $38,000 after acquiring an additional 2,177 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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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