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

Citigroup upgraded shares of Skydance (NYSE:SKYD) to a strong-buy rating in a research report released on Monday,Zacks reports.

Several other equities analysts have also weighed in on SKYD. Cantor Fitzgerald initiated coverage on shares of Skydance in a report on Friday. They set an “overweight” rating on the stock. Barclays set a $7.00 target price on Skydance and gave the company an “underweight” rating in a research note on Wednesday, October 7th. TD Cowen decreased their target price on Skydance from $6.50 to $4.00 and set a “hold” rating for the company in a research report on Wednesday, August 5th. UBS Group decreased their target price on Skydance from $5.00 to $4.00 and set a “sell” rating for the company in a research report on Wednesday, August 5th. Finally, Needham & Company LLC assumed coverage on Skydance in a research note on Friday. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.02.

Skydance Stock Down 4.4%

Skydance stock opened at $7.43 on Monday. The company has a market capitalization of $8.34 billion, a PE ratio of 25.62 and a beta of 1.53. Skydance has a 12-month low of $6.61 and a 12-month high of $17.16. The firm’s fifty day moving average is $6.13 and its 200 day moving average is $5.41. The company has a quick ratio of 0.88, a current ratio of 1.04 and a debt-to-equity ratio of 1.13.

Skydance (NYSE:SKYD) last posted 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, sell-side analysts predict that Skydance will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Skydance

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Skydance during the second quarter worth about $75,000. IFP Advisors Inc boosted its stake in Skydance by 11.6% in the second quarter. IFP Advisors Inc now owns 50,934 shares of the media and entertainment company’s stock valued at $502,000 after acquiring an additional 5,294 shares during the last quarter. Arizona State Retirement System boosted its stake in Skydance by 1.2% in the second 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 last quarter. Nykredit A S purchased a new position in Skydance in the second quarter valued at about $150,000. Finally, Brown Financial Advisors bought a new position in shares of Skydance during the 2nd quarter valued at approximately $175,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

More 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.