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

Skydance Corporation (NYSE:SKYD) 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) 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.