Skydance (NYSE:SKYD) Hits New 1-Year Low - Here's What Happened

Key Points

• Skydance shares fell to a new 52-week low of $7.60, down from the prior close of $9.27, amid limited trading volume.
• Wall Street sentiment remains cautious: analysts give the stock an average “Reduce” rating, with nine Sell ratings and an average price target of $5.59.
• The company reported quarterly revenue of $6.91 billion and slightly beat earnings expectations, but it has a negative net margin and cut its quarterly dividend to $0.025 per share from $0.05.

Shares of Skydance Corporation (NYSE:SKYD - Get Free Report) reached a new 52-week low during trading on Wednesday. The stock traded as low as $7.60 and last traded at $7.60, with a volume of 3,709 shares changing hands. The stock had previously closed at $9.27.

More Skydance News

Here are the key news stories impacting Skydance this week:

• Positive Sentiment: Skydance raised prices for Discovery+, now charging up to $11.99 per month. The move could improve streaming revenue and monetization, although it may also increase customer churn. Discovery+ Raises Prices In One Of Skydance’s First Streaming Moves After Merger Close
• Positive Sentiment: Skydance and Spain’s Movistar Plus expanded their strategic partnership to develop co-branded original series under a joint label, supporting international content production and distribution opportunities. Skydance, Movistar Plus Expand Strategic Alliance
• Positive Sentiment: Coverage highlighting Skydance’s expanded television operation—reported to include roughly 150 series—underscores the scale of its post-merger content library and potential cross-platform synergies. Skydance’s Sprawling TV Empire

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SKYD. Arete Research reiterated a "sell" rating and issued a $1.00 price target on shares of Skydance in a research note on Thursday, July 9th. Benchmark dropped their price target on Skydance from $9.50 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Barclays set a $7.00 price objective on shares of Skydance and gave the company an "underweight" rating in a report on Wednesday, October 7th. TD Cowen cut their price target on shares of Skydance from $6.50 to $4.00 and set a "hold" rating on the stock in a report on Wednesday, August 5th. Finally, UBS Group decreased their price objective on Skydance from $5.00 to $4.00 and set a "sell" rating for the company in a report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $5.59.

Skydance Stock Performance

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 firm's fifty day moving average is $5.72 and its two-hundred day moving average is $5.25.

Skydance (NYSE:SKYD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The media and entertainment company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Skydance had a negative net margin of 2.13% and a positive return on equity of 4.11%. The company had revenue of $6.91 billion during the quarter. As a group, research analysts anticipate that Skydance Corporation will post -0.20 earnings per share for the current year.

Skydance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th were given a $0.0250 dividend. This represents a $0.10 annualized dividend and a dividend yield of 1.4%. This is a decrease from Skydance's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, September 15th.

Institutional Investors Weigh In On Skydance

A number of institutional investors have recently made changes to their positions in SKYD. MTCO Ltd. grew its position in shares of Skydance by 133.3% during the first quarter. MTCO Ltd. now owns 6,300,000 shares of the media and entertainment company's stock worth $56,826,000 after purchasing an additional 3,600,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Skydance by 126.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,970,920 shares of the media and entertainment company's stock worth $35,812,000 after purchasing an additional 2,216,433 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Skydance during the second quarter valued at approximately $14,002,000. Palestra Capital Management LLC bought a new stake in Skydance during the 2nd quarter valued at $12,798,000. Finally, LTS Liquid Investments LLC raised its holdings in shares of 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 purchasing an additional 827,248 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Skydance Company Profile

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

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