Paramount Skydance (NASDAQ:PSKY) Coverage Initiated at Citizens Jmp

Equities research analysts at Citizens Jmp began coverage on shares of Paramount Skydance (NASDAQ:PSKY) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set an “outperform” rating and a $14.00 price target on the stock. Citizens Jmp’s price target would suggest a potential upside of 32.08% from the stock’s previous close.

Several other equities analysts also recently weighed in on PSKY. Benchmark cut their price target on shares of Paramount Skydance from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Paramount Skydance from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. TD Cowen dropped their price objective on shares of Paramount Skydance from $13.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, August 5th. UBS Group cut their price objective on shares of Paramount Skydance from $10.00 to $8.00 and set a “sell” rating on the stock in a research note on Wednesday, August 5th. Finally, Arete Research reissued a “sell” rating and set a $2.00 target price on shares of Paramount Skydance in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $11.57.

Paramount Skydance Price Performance

Paramount Skydance stock opened at $10.60 on Monday. The business’s 50-day simple moving average is $9.62 and its two-hundred day simple moving average is $10.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 1.04. The company has a market cap of $11.89 billion, a PE ratio of 36.55, a PEG ratio of 1.01 and a beta of 1.50. Paramount Skydance has a fifty-two week low of $7.62 and a fifty-two week high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%.The firm had revenue of $6.91 billion during the quarter. Equities analysts anticipate that Paramount Skydance will post 0.56 EPS for the current year.

Hedge Funds Weigh In On Paramount Skydance

Institutional investors have recently made changes to their positions in the company. State Street Corp purchased a new stake in Paramount Skydance during the third quarter worth $524,371,000. Invesco Ltd. increased its holdings in Paramount Skydance by 1.0% in the fourth quarter. Invesco Ltd. now owns 15,406,791 shares of the company’s stock valued at $206,451,000 after buying an additional 155,679 shares in the last quarter. Contrarius Group Holdings Ltd raised its position in shares of 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 acquiring an additional 5,221,622 shares during the period. MTCO Ltd. boosted its stake in shares of Paramount Skydance by 21.4% during the 2nd quarter. MTCO Ltd. now owns 7,650,000 shares of the company’s stock worth $75,429,000 after acquiring an additional 1,350,000 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Paramount Skydance by 185.9% during the 4th quarter. Deutsche Bank AG now owns 5,573,970 shares of the company’s stock worth $74,691,000 after acquiring an additional 3,624,388 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Company Profile

Paramount Skydance Corporation (NASDAQ: PSKY) is a global media and entertainment company formed through the combination of Paramount Global and Skydance Media. The company develops, produces and distributes feature films, television programming and other video content for audiences in the United States and international markets.

Its portfolio includes Paramount Pictures, CBS, Nickelodeon, MTV, Comedy Central, BET, Showtime and other well-known entertainment brands. Paramount Skydance also operates streaming services including Paramount+ and Pluto TV, as well as businesses involved in television broadcasting, news, sports and content licensing.

The company’s history includes Paramount Pictures, one of Hollywood’s longstanding film studios, and Skydance Media, a production company founded in 2010 by David Ellison.