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

Paramount Skydance (NASDAQ:PSKY) had its price objective decreased by Wells Fargo & Company from $10.00 to $8.00 in a report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. TD Cowen lowered 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. Morgan Stanley raised their target price on Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research report on Friday, March 27th. Wolfe Research reiterated an “underperform” rating and set a $13.00 price target on shares of Paramount Skydance in a research note on Monday, December 15th. Finally, Guggenheim increased their price objective on Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $12.85.

Paramount Skydance Stock Performance

PSKY opened at $9.52 on Thursday. Paramount Skydance has a 52-week low of $8.61 and a 52-week high of $20.86. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 1.03. The company has a market cap of $10.58 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.39 and a beta of 1.37. The firm’s 50-day moving average price is $10.47 and its 200-day moving average price is $13.62.

Paramount Skydance (NASDAQ:PSKY) last released its earnings results on Wednesday, February 25th. The company reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $999.02. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.17 billion. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%.

Paramount Skydance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, March 16th. Paramount Skydance’s dividend payout ratio (DPR) is 31.75%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSKY. CYBER HORNET ETFs LLC acquired a new stake in Paramount Skydance during the 3rd quarter worth about $25,000. Huntington National Bank lifted its holdings in shares of Paramount Skydance by 108.2% in the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after buying an additional 1,174 shares during the period. Larson Financial Group LLC boosted 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 worth $31,000 after buying an additional 1,936 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Paramount Skydance in the third quarter worth about $32,000. Finally, Center for Financial Planning Inc. acquired a new stake in Paramount Skydance during the third quarter worth about $35,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

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.