Skydance (NYSE:SKYD) Given New $8.00 Price Target at Wells Fargo & Company

Skydance (NYSE:SKYD) had its price objective raised by equities research analysts at Wells Fargo & Company from $7.00 to $8.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the media and entertainment company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 0.13% from the stock’s previous close.

SKYD has been the subject of several other reports. Piper Sandler lowered Skydance to a “neutral” rating in a report on Friday, October 23rd. JPMorgan Chase & Co. initiated coverage on shares of Skydance in a research note on Friday, October 23rd. They issued a “neutral” rating and a $9.00 target price for the company. Barclays set a $7.00 price objective on Skydance and gave the company an “underweight” rating in a research note on Wednesday, October 7th. Cantor Fitzgerald assumed coverage on Skydance in a research note on Friday, October 23rd. They issued an “overweight” rating on the stock. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Skydance in a research note on Wednesday, October 21st. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, Skydance presently has an average rating of “Hold” and a consensus target price of $6.72.

Skydance Stock Down 8.2%

SKYD traded down $0.71 on Tuesday, reaching $7.99. The company’s stock had a trading volume of 7,838,577 shares, compared to its average volume of 14,592,804. Skydance has a 1 year low of $6.61 and a 1 year high of $17.16. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.04 and a quick ratio of 0.88. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 27.55 and a beta of 1.64. The business’s 50 day moving average is $6.74 and its 200 day moving average is $5.52.

Skydance (NYSE:SKYD) last released its quarterly earnings data on Monday, November 9th. The media and entertainment company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.27. The business had revenue of $7.03 billion during the quarter, compared to analyst estimates of $7.07 billion. Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%. As a group, research analysts forecast that Skydance will post -0.08 EPS for the current fiscal year.

Institutional Trading of Skydance

Institutional investors have recently added to or reduced their stakes in the business. Compass Financial Management LLC purchased a new position in shares of Skydance during the second quarter valued at about $42,000. CX Institutional boosted 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 valued at $45,000 after purchasing an additional 1,273 shares during the last quarter. Western Wealth Management LLC purchased a new position in Skydance during the first quarter worth $61,000. Integrated Wealth Concepts LLC bought a new position in Skydance in the 2nd quarter valued at $75,000. Finally, Summitry LLC bought a new stake in shares of Skydance in the 1st quarter valued at about $92,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

More Skydance News

Here are the key news stories impacting Skydance this week:

• Positive Sentiment: Skydance reported third-quarter adjusted earnings of $0.45 per share, ahead of the $0.18 consensus estimate. Revenue of $7.03 billion was slightly below expectations of $7.07 billion. The results covered the period before the Warner Bros. Discovery acquisition closed. Earnings results
• Positive Sentiment: Management outlined more than $6 billion in targeted cost savings over three years through consolidating operations, reducing technology costs, and eliminating management layers. If achieved, the cuts could help offset integration costs and support profitability. Cost savings plan
• Positive Sentiment: The company plans to bundle Paramount+ with HBO Max early next year, aiming to strengthen its streaming offering. Paramount+ revenue rose 21% in the third quarter, providing a recent growth signal for the business. Streaming bundle plans
• Neutral Sentiment: Skydance named Marvel veteran Jeremy Latcham to lead DC Studios after James Gunn and Peter Safran depart. A leadership change could reshape the studio’s creative direction; reports also cite tensions between Gunn and Skydance executives, making the transition a potential execution risk. DC Studios leadership change
• Negative Sentiment: Reports say the Warner Bros. film slate could reduce fourth-quarter profit by about $200 million. Skydance also faces an approximately $87 billion debt burden following the deal, raising the importance of successful cost cuts and growth initiatives. Warner slate and profit impact Debt burden

About Skydance

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