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

Key Points

• Citigroup upgraded Skydance to “strong buy,” while Jefferies also raised its rating to “buy.” However, analyst sentiment remains mixed overall, with MarketBeat showing an average “hold” rating and a $6.02 average price target.
• Skydance shares traded down 4.4% and opened at $7.43, well below their 12-month high of $17.16. The company recently beat quarterly EPS estimates, reporting $0.09 per share versus the $0.08 consensus, but analysts expect a full-year loss.
• Institutional investors own 73% of Skydance’s stock, and several funds recently increased their positions. The company is also pursuing cost reductions through voluntary buyouts following its merger.

Skydance (NYSE:SKYD - Get Free Report) was upgraded by equities research analysts at Citigroup to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

A number of other equities analysts also recently issued reports on SKYD. Jefferies Financial Group raised Skydance to a "buy" rating in a research report on Friday. Citizens Jmp restated a "market outperform" rating and issued a $7.00 price target on shares of Skydance in a report on Tuesday, September 22nd. Morgan Stanley boosted their target price on Skydance from $5.00 to $5.75 and gave the stock an "overweight" rating in a research note on Tuesday, September 22nd. TD Cowen reduced their target price on Skydance from $6.50 to $4.00 and set a "hold" rating on the stock in a research report on Wednesday, August 5th. Finally, Barclays set a $7.00 price target on Skydance and gave the company an "underweight" rating in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $6.02.

Skydance Trading Down 4.4%

SKYD stock opened at $7.43 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. The business's fifty day simple moving average is $6.13 and its two-hundred day simple moving average is $5.41. Skydance has a twelve month low of $6.61 and a twelve month high of $17.16.

Skydance (NYSE:SKYD - Get Free Report) last issued its earnings results on Tuesday, August 4th. The media and entertainment company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The firm 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%. As a group, analysts predict that Skydance will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SKYD. Pittenger & Anderson Inc. raised its position in shares of Skydance by 18.0% in the first quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the media and entertainment company's stock worth $59,000 after acquiring an additional 1,000 shares during the period. New Mexico Educational Retirement Board grew its position in shares of Skydance by 6.9% during the 2nd quarter. New Mexico Educational Retirement Board now owns 15,499 shares of the media and entertainment company's stock valued at $153,000 after acquiring an additional 1,000 shares during the period. Arizona State Retirement System grew its position in shares of Skydance by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 89,455 shares of the media and entertainment company's stock valued at $882,000 after acquiring an additional 1,077 shares during the period. CX Institutional increased its stake in shares of Skydance by 38.1% in the 2nd quarter. CX Institutional now owns 4,612 shares of the media and entertainment company's stock valued at $45,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its stake in shares of Skydance by 14.6% in the 1st quarter. Kestra Advisory Services LLC now owns 14,130 shares of the media and entertainment company's stock valued at $127,000 after purchasing an additional 1,805 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Key Skydance News

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.

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