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

Paramount Skydance (NASDAQ:PSKY) had its price objective decreased by investment analysts at Wells Fargo & Company from $10.00 to $8.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 12.62% from the company’s current price.

A number of other analysts have also weighed in on the stock. TD Cowen reduced their price objective on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Guggenheim upped their target price on shares of Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Wolfe Research reissued an “underperform” rating and set a $13.00 price target on shares of Paramount Skydance in a research report on Monday, December 15th. Bank of America decreased their price objective on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating for the company in a report on Tuesday, March 10th. Finally, Zacks Research raised Paramount Skydance from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. One equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average target price of $12.85.

Paramount Skydance Stock Down 1.0%

Paramount Skydance stock traded down $0.10 during mid-day trading on Thursday, hitting $9.16. The company had a trading volume of 1,637,142 shares, compared to its average volume of 11,551,038. Paramount Skydance has a 12 month low of $8.61 and a 12 month high of $20.86. The company has a market capitalization of $10.18 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 0.37 and a beta of 1.37. The stock’s 50 day moving average price is $10.56 and its two-hundred day moving average price is $13.74. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 1.03.

Paramount Skydance (NASDAQ:PSKY) last issued 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. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.17 billion. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%.

Institutional Trading of Paramount Skydance

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Paramount Skydance by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company’s stock worth $482,481,000 after acquiring an additional 132,613 shares during the period. State Street Corp bought a new position in Paramount Skydance during the third quarter valued at approximately $524,371,000. Invesco Ltd. lifted its position in Paramount Skydance by 1.0% during the fourth quarter. Invesco Ltd. now owns 15,406,791 shares of the company’s stock valued at $206,451,000 after purchasing an additional 155,679 shares during the period. Contrarius Group Holdings Ltd boosted its holdings in Paramount Skydance by 52.9% in the fourth quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company’s stock worth $202,180,000 after purchasing an additional 5,221,622 shares during the last quarter. Finally, Barclays PLC purchased a new stake in Paramount Skydance in the third quarter worth approximately $258,196,000. 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.