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

Paramount Skydance (NASDAQ:PSKY)‘s stock had its “sell” rating reissued by 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 target price indicates a potential downside of 77.62% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 5th. Morgan Stanley upgraded Paramount Skydance from an “underweight” rating to an “overweight” rating and raised their target price for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research report on Wednesday, June 24th. Finally, Guggenheim dropped their price target on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $12.00.

Paramount Skydance Price Performance

NASDAQ:PSKY traded down $0.81 on Thursday, hitting $8.94. The company had a trading volume of 3,321,820 shares, compared to its average volume of 10,589,428. Paramount Skydance has a 52 week low of $8.61 and a 52 week high of $20.86. 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 stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.74 and a beta of 1.43. The firm has a 50 day moving average of $10.29 and a two-hundred day moving average of $10.88.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The business had revenue of $7.35 billion during the quarter. During the same period in the prior year, the business earned $0.22 earnings per share. On average, research analysts anticipate that Paramount Skydance will post 0.55 earnings per share for the current year.

Institutional Trading of Paramount Skydance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSKY. State Street Corp purchased a new stake in Paramount Skydance in the 3rd quarter valued at $524,371,000. Invesco Ltd. purchased a new stake in shares of Paramount Skydance during the 3rd quarter valued at $288,551,000. Contrarius Group Holdings Ltd increased its position in shares of Paramount Skydance by 52.9% during the 4th quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company’s stock valued at $202,180,000 after purchasing an additional 5,221,622 shares during the last quarter. Amundi bought a new stake in shares of Paramount Skydance during the 3rd quarter worth $80,539,000. Finally, Deutsche Bank AG boosted its holdings in shares of Paramount Skydance by 185.9% in the 4th quarter. Deutsche Bank AG now owns 5,573,970 shares of the company’s stock worth $74,691,000 after buying an additional 3,624,388 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

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.