Skydance (NYSE:SKYD) Stock Falls 1.6% - Here's What Happened

Key Points

• Skydance shares fell 1.6% to $6.80 in heavy trading, with volume reaching 28.4 million shares—102% above the average daily volume.
• Analyst sentiment remains cautious: Skydance has a consensus rating of “Reduce” and an average price target of $5.59, with 9 sell ratings, 4 holds, and 5 buys.
• The company cut its quarterly dividend from $0.05 to $0.025 per share, resulting in a $0.10 annualized dividend and a 1.5% yield. Its latest quarter modestly beat earnings estimates, reporting $0.09 in EPS on $6.91 billion in revenue.

Shares of Skydance Corporation (NYSE:SKYD - Get Free Report) fell 1.6% during trading on Monday. The stock traded as low as $6.61 and last traded at $6.80. 28,411,040 shares were traded during mid-day trading, an increase of 102% from the average daily volume of 14,051,285 shares. The stock had previously closed at $6.91.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Benchmark cut their price objective on Skydance from $9.50 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Citigroup began coverage on Skydance in a research note on Monday, September 14th. They issued an "outperform" rating on the stock. Barclays set a $7.00 target price on Skydance and gave the company an "underweight" rating in a report on Wednesday, October 7th. Citizens Jmp reissued a "market outperform" rating and set a $7.00 price target on shares of Skydance in a research report on Tuesday, September 22nd. Finally, UBS Group dropped their price target on Skydance from $5.00 to $4.00 and set a "sell" rating for the company in a research report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, Skydance presently has a consensus rating of "Reduce" and a consensus target price of $5.59.

Skydance Stock Performance

The company has a market capitalization of $7.63 billion, a PE ratio of 23.45 and a beta of 1.53. The stock's fifty day simple moving average is $5.88 and its 200-day simple moving average is $5.31. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 1.04.

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

Skydance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were paid a dividend of $0.0250 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This is a negative change from Skydance's previous quarterly dividend of $0.05. This represents a $0.10 annualized dividend and a dividend yield of 1.5%. Skydance's payout ratio is currently 68.97%.

Institutional Trading of Skydance

Several hedge funds and other institutional investors have recently bought and sold shares of SKYD. Compass Financial Management LLC acquired a new position in shares of Skydance during the 2nd quarter valued at about $42,000. CX Institutional lifted its holdings in shares of Skydance by 38.1% during the 2nd quarter. CX Institutional now owns 4,612 shares of the media and entertainment company's stock worth $45,000 after acquiring an additional 1,273 shares during the period. Pittenger & Anderson Inc. boosted 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 last quarter. Western Wealth Management LLC acquired a new stake in shares of Skydance in the first quarter worth approximately $61,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Skydance in the second quarter worth approximately $75,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

About Skydance

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

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