Paramount Skydance (NASDAQ:PSKY) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Paramount Skydance (NASDAQ:PSKY) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

PSKY has been the subject of several other reports. Bank of America boosted their target price on Paramount Skydance from $11.00 to $13.00 and gave the stock an “underperform” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research report on Monday. Wall Street Zen raised shares of Paramount Skydance to a “hold” rating in a report on Saturday, November 15th. Benchmark raised their target price on shares of Paramount Skydance from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Wells Fargo & Company lifted their target price on shares of Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $14.09.

Paramount Skydance Price Performance

Paramount Skydance stock opened at $14.64 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 1.16. The firm has a market capitalization of $15.69 billion, a P/E ratio of -487.84 and a beta of 1.16. Paramount Skydance has a one year low of $9.95 and a one year high of $20.86. The stock’s fifty day simple moving average is $16.21.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.37). The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.79 billion. Paramount Skydance had a positive return on equity of 3.95% and a negative net margin of 0.95%.Paramount Skydance’s quarterly revenue was up 0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS.

Hedge Funds Weigh In On Paramount Skydance

Institutional investors and hedge funds have recently bought and sold shares of the stock. CYBER HORNET ETFs LLC acquired a new position in Paramount Skydance during the 3rd quarter valued at $25,000. Kelleher Financial Advisors bought a new position in shares of Paramount Skydance during the 3rd quarter worth about $32,000. Center for Financial Planning Inc. bought a new position in shares of Paramount Skydance during the 3rd quarter worth about $35,000. Versant Capital Management Inc acquired a new position in shares of Paramount Skydance during the third quarter valued at about $39,000. Finally, Addison Advisors LLC bought a new stake in shares of Paramount Skydance in the third quarter valued at about $42,000. Institutional investors own 73.00% of the company’s stock.

Paramount Skydance Company Profile

Paramount Global is a media and entertainment company which creates premium content and experiences for audiences. The company’s portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount , Pluto TV and Simon & Schuster, among others.