Skydance (NYSE:SKYD) Shares Up 2.8% – Here’s Why

Skydance Corporation (NYSE:SKYD) traded up 2.8% during mid-day trading on Thursday. The company traded as high as $7.50 and last traded at $7.26. 52,371,725 shares were traded during trading, an increase of 278% from the average daily volume of 13,867,256 shares. The stock had previously closed at $7.06.

Trending Headlines about Skydance

Here are the key news stories impacting Skydance this week:

• Positive Sentiment: AEW executives said they remain optimistic about the wrestling promotion’s outlook and described Skydance CEO David Ellison as enthusiastic about AEW. Continued support could strengthen Skydance’s sports and entertainment content strategy, although the financial terms and impact remain unclear. Tony Khan Reveals How Skydance Boss David Ellison Has Reacted to AEW Tony Khan Doubles Down on AEW’s Outlook After Skydance News
• Neutral Sentiment: A former NBC and Skydance executive is reportedly pursuing linear-television assets. Such acquisitions could provide Skydance with additional content and distribution opportunities, but they could also require substantial capital and add to integration risk. Former NBC, Skydance Executive Seeks Linear TV Assets
• Neutral Sentiment: Skydance’s new film era will begin with projects including Street Fighter and Clayface. Their performance could materially affect the company’s post-merger growth prospects, but investors currently face meaningful execution and box-office risk. Street Fighter and Clayface Kick Off Skydance Film Era
• Negative Sentiment: Ricochet, the Skydance-owned producer behind The Repair Shop, is reportedly making layoffs. The reductions may lower costs, but they also signal pressure within the production business. Ricochet Makes Layoffs
• Negative Sentiment: Skydance shares fell sharply after nearly 471 million warrants began trading separately. The company characterized the move as a technical adjustment, but the large warrant supply has increased dilution concerns and contributed to the stock reaching a new 52-week low. Skydance Shares Plunge After Warrant Distribution
• Negative Sentiment: Morningstar reportedly sees Skydance’s streaming ambitions facing a roughly $12 valuation and a heavy debt burden. Analysts and investors remain concerned about leverage, the cost of building streaming scale and the company’s ability to generate sustainable profits. Morningstar Cites Valuation and Debt Concerns Skydance: Here Comes The Flood
• Negative Sentiment: Inflation and interest-rate concerns have added to pressure on media and technology stocks, amplifying Skydance’s decline. Skydance Shares Tumble Amid Market Volatility

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SKYD shares. Arete Research reiterated a “sell” rating and issued a $1.00 target price on shares of Skydance in a report on Thursday, July 9th. TD Cowen decreased their price target on shares of Skydance from $6.50 to $4.00 and set a “hold” rating for the company in a report on Wednesday, August 5th. Citizens Jmp restated a “market outperform” rating and issued a $7.00 price objective on shares of Skydance in a research report on Tuesday, September 22nd. Stephens reaffirmed a “buy” rating on shares of Skydance in a research note on Friday. Finally, Morgan Stanley raised their price objective on Skydance from $5.00 to $5.75 and gave the stock an “overweight” rating in a research note on Tuesday, September 22nd. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, Skydance has a consensus rating of “Reduce” and a consensus target price of $5.59.

Skydance Price Performance

The company has a market cap of $7.76 billion, a price-to-earnings ratio of 23.86 and a beta of 1.53. The company has a quick ratio of 0.88, a current ratio of 1.04 and a debt-to-equity ratio of 1.13. The company’s fifty day moving average price is $5.88 and its two-hundred day moving average price is $5.30.

Skydance (NYSE:SKYD) last issued its quarterly earnings data 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 for the quarter. Skydance had a negative net margin of 2.13% and a positive return on equity of 4.11%. On average, equities research analysts forecast that Skydance Corporation will post -0.20 EPS for the current fiscal year.

Skydance Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.0250 per share. This is a drop from Skydance’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, September 15th. This represents a $0.10 dividend on an annualized basis and a yield of 1.4%. Skydance’s dividend payout ratio is currently 68.97%.

Institutional Trading of Skydance

A number of institutional investors have recently modified their holdings of the company. Compass Financial Management LLC acquired a new stake in Skydance in the 2nd quarter valued at approximately $42,000. CX Institutional boosted its position in 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 last quarter. Pittenger & Anderson Inc. grew its stake in shares of Skydance by 18.0% during the 1st 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 in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Skydance in the first quarter valued at approximately $61,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Skydance in the second quarter valued at approximately $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.