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

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

PSKY has been the topic of a number of other reports. Guggenheim raised their price target on shares of Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Morgan Stanley boosted their price objective on shares of 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 reissued a “sell (d-)” rating on shares of Paramount Skydance in a research report on Friday, March 27th. Wolfe Research reaffirmed an “underperform” rating and issued a $13.00 price target on shares of Paramount Skydance in a report on Monday, December 15th. Finally, Zacks Research raised Paramount Skydance from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, Paramount Skydance presently has a consensus rating of “Strong Sell” and an average target price of $12.85.

Paramount Skydance Trading Up 2.9%

PSKY opened at $9.52 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 1.03. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 0.38 and a beta of 1.37. Paramount Skydance has a 12 month low of $8.61 and a 12 month high of $20.86. The stock has a fifty day moving average price of $10.52 and a 200-day moving average price of $13.71.

Paramount Skydance (NASDAQ:PSKY) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $999.02. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%.The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.17 billion.

Paramount Skydance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 16th were given a $0.05 dividend. 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 presently 31.75%.

Institutional Trading of Paramount Skydance

Several large investors have recently bought and sold shares of PSKY. Vanguard Group Inc. acquired a new position in Paramount Skydance during the 3rd quarter valued at approximately $678,726,000. State Street Corp acquired a new stake in shares of Paramount Skydance during the third quarter worth $524,371,000. Invesco Ltd. purchased a new stake in shares of Paramount Skydance during the third quarter valued at $288,551,000. Barclays PLC acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at $258,196,000. Finally, Contrarius Group Holdings Ltd acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at $186,674,000. 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.