Skydance (NYSE:SKYD) Stock Moved Up to “Strong-Buy” by Citigroup

Skydance (NYSE:SKYD) was upgraded by research analysts at Citigroup to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

SKYD has been the topic of several other reports. Jefferies Financial Group raised shares of Skydance to a “buy” rating in a report on Friday. UBS Group cut their target price on shares of Skydance from $5.00 to $4.00 and set a “sell” rating for the company in a research note on Wednesday, August 5th. JPMorgan Chase & Co. assumed coverage on shares of Skydance in a research report on Friday. They set a “neutral” rating and a $9.00 price target for the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Skydance in a research note on Wednesday, October 21st. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $7.00 price objective on shares of Skydance in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, Skydance currently has a consensus rating of “Hold” and a consensus target price of $6.02.

Skydance Trading Down 4.4%

Shares of NYSE:SKYD opened at $7.43 on Monday. The business’s 50 day moving average price is $6.13 and its 200-day moving average price is $5.41. Skydance has a 1 year low of $6.61 and a 1 year high of $17.16. The company has a current ratio of 1.04, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13.

Skydance (NYSE:SKYD) last issued its quarterly earnings results on Tuesday, August 4th. The media and entertainment company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $6.91 billion during the quarter. Skydance had a negative net margin of 2.13% and a positive return on equity of 4.11%. Research analysts anticipate that Skydance will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On Skydance

A number of hedge funds have recently modified their holdings of SKYD. MTCO Ltd. boosted its position in Skydance by 21.4% during the second quarter. MTCO Ltd. now owns 7,650,000 shares of the media and entertainment company’s stock worth $75,429,000 after acquiring an additional 1,350,000 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Skydance by 126.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,970,920 shares of the media and entertainment company’s stock valued at $35,812,000 after acquiring an additional 2,216,433 shares during the last quarter. LTS Liquid Investments LLC raised its holdings in Skydance by 68.7% in the 1st quarter. LTS Liquid Investments LLC now owns 2,030,591 shares of the media and entertainment company’s stock valued at $18,316,000 after acquiring an additional 827,248 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Skydance in the 2nd quarter valued at about $14,002,000. Finally, Palestra Capital Management LLC purchased a new position in Skydance in the 2nd quarter worth approximately $12,798,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Skydance

Here are the key news stories impacting Skydance this week:

• Positive Sentiment: Citi initiated a Buy rating on Skydance, arguing that Wall Street may be underestimating the company’s ability to reduce costs and improve its short-term performance. The analyst view provides support for the stock’s valuation, although it has not yet overcome broader investor skepticism. Skydance Stock Is Risky. What Could Power a Rally Anyway?
• Positive Sentiment: Elon Musk reportedly invested approximately $1 billion in Skydance, a development that could provide capital, visibility and potential strategic opportunities. The reports also fueled speculation about a possible future partnership involving SpaceX, though no definitive deal has been announced. Elon Musk invests about $1bn in David Ellison’s Skydance
• Positive Sentiment: Skydance is offering voluntary buyouts as part of a broader cost-reduction effort following its merger. If successful, the program could lower expenses and improve margins in a challenging media environment. Skydance Is Offering Employees Voluntary Buyouts Ahead of Layoffs

Skydance Company Profile

Skydance Corporation is a global media and entertainment company formerly known as Paramount Skydance Corporation.