Skydance (NYSE:SKYD) Shares Down 1.6% – What’s Next?

Skydance Corporation (NYSE:SKYD)’s stock price dropped 1.6% on Monday. The company traded as low as $6.61 and last traded at $6.80. Approximately 28,411,040 shares traded hands during trading, an increase of 102% from the average daily volume of 14,051,285 shares. The stock had previously closed at $6.91.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Skydance from $5.00 to $5.75 and gave the company an “overweight” rating in a report on Tuesday, September 22nd. Barclays set a $7.00 price objective on Skydance and gave the stock an “underweight” rating in a report on Wednesday, October 7th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $6.00 target price (down from $12.00) on shares of Skydance in a research report on Friday. Stephens reiterated a “buy” rating on shares of Skydance in a report on Friday. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $7.00 target price on shares of Skydance in a report on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Skydance currently has an average rating of “Reduce” and an average target price of $5.59.

Skydance Stock Down 1.6%

The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 1.04. The firm has a market cap of $7.63 billion, a PE ratio of 23.45 and a beta of 1.53. The stock has a fifty day moving average price of $5.88 and a 200-day moving average price of $5.31.

Skydance (NYSE:SKYD) last released its quarterly earnings data on Tuesday, August 4th. The media and entertainment company reported $0.09 earnings per share (EPS) for the quarter, topping 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. Research analysts expect that Skydance Corporation will post -0.37 EPS for the current year.

Skydance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were issued a dividend of $0.0250 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 15th. This is a negative change from Skydance’s previous quarterly dividend of $0.05. Skydance’s dividend payout ratio (DPR) is presently 68.97%.

Institutional Trading of Skydance

Several large investors have recently added to or reduced their stakes in the stock. MTCO Ltd. raised its position in Skydance by 21.4% in the second quarter. MTCO Ltd. now owns 7,650,000 shares of the media and entertainment company’s stock valued at $75,429,000 after purchasing an additional 1,350,000 shares during the period. Dimensional Fund Advisors LP boosted its position 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 buying an additional 2,216,433 shares during the period. LTS Liquid Investments LLC boosted its position in shares of Skydance by 68.7% in the first quarter. LTS Liquid Investments LLC now owns 2,030,591 shares of the media and entertainment company’s stock worth $18,316,000 after buying an additional 827,248 shares during the period. SG Americas Securities LLC grew its stake in shares of Skydance by 106.4% in the first quarter. SG Americas Securities LLC now owns 1,597,902 shares of the media and entertainment company’s stock valued at $14,413,000 after buying an additional 823,629 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Skydance in the second quarter valued at about $14,002,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

About Skydance

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