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

Key Points

• Skydance shares fell to a new 52-week low of $6.61 during Tuesday trading, closing last at $6.80 on volume of roughly 28.4 million shares.
• Analyst sentiment is broadly negative: the stock has a consensus rating of “Reduce,” with 9 Sell, 4 Hold, and 5 Buy ratings, and an average price target of $5.59.
• Skydance beat quarterly earnings expectations slightly, reporting $0.09 EPS versus the $0.08 consensus and $6.91 billion in revenue, though analysts expect a full-year loss of $0.37 per share.

Skydance Corporation (NYSE:SKYD - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $6.61 and last traded at $6.80, with a volume of 28,447,495 shares traded. The stock had previously closed at $6.91.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SKYD shares. Arete Research reiterated a "sell" rating and set a $1.00 price objective on shares of Skydance in a research report on Thursday, July 9th. Sanford C. Bernstein restated an "underperform" rating and issued a $6.00 target price (down from $12.00) on shares of Skydance in a report on Friday. Citizens Jmp reaffirmed a "market outperform" rating and set a $7.00 price target on shares of Skydance in a research note on Tuesday, September 22nd. UBS Group dropped their price target 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. Finally, Benchmark cut their price target on shares of Skydance from $9.50 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $5.59.

Skydance Price Performance

The stock has a 50 day moving average of $5.92 and a 200-day moving average of $5.33. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The media and entertainment company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%. The company had revenue of $6.91 billion for the quarter. Research analysts expect that Skydance Corporation will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Compass Financial Management LLC purchased a new position in Skydance in the 2nd quarter worth about $42,000. CX Institutional lifted its holdings in Skydance by 38.1% during the 2nd quarter. CX Institutional now owns 4,612 shares of the media and entertainment company's stock valued at $45,000 after buying an additional 1,273 shares in the last quarter. Pittenger & Anderson Inc. boosted its position in Skydance by 18.0% in the 1st quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the media and entertainment company's stock valued at $59,000 after buying an additional 1,000 shares during the period. Western Wealth Management LLC purchased a new stake in Skydance in the 1st quarter valued at about $61,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Skydance in the 2nd quarter valued at about $75,000. 73.00% of the stock is currently owned by institutional investors.

Skydance Company Profile

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.