Sky Plc (SKY) Upgraded by Morgan Stanley to Overweight
Morgan Stanley upgraded shares of Sky Plc (LON:SKY) to an overweight rating in a research note published on Monday. They currently have GBX 1,000 ($13.05) price target on the stock, down from their prior price target of GBX 1,025 ($13.38).
A number of other brokerages also recently weighed in on SKY. Deutsche Bank AG restated a buy rating and set a GBX 1,500 ($19.58) price objective on shares of Sky Plc in a research report on Friday, May 27th. BNP Paribas increased their price objective on shares of Sky Plc from GBX 1,050 ($13.71) to GBX 1,100 ($14.36) and gave the company a neutral rating in a research report on Wednesday, June 1st. Shore Capital restated a buy rating on shares of Sky Plc in a research report on Friday, June 10th. Liberum Capital restated a sell rating and set a GBX 530 ($6.92) price objective on shares of Sky Plc in a research report on Friday, June 10th. Finally, HSBC increased their price objective on shares of Sky Plc from GBX 1,010 ($13.18) to GBX 1,030 ($13.44) and gave the company a hold rating in a research report on Friday, June 10th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of GBX 1,050.41 ($13.71).
Shares of Sky Plc (LON:SKY) opened at 859.50 on Monday. The company’s market capitalization is GBX 14.68 billion. Sky Plc has a 12-month low of GBX 560.00 and a 12-month high of GBX 1,134.00. The stock’s 50 day moving average is GBX 866.67 and its 200-day moving average is GBX 923.12.
The company also recently announced a dividend, which will be paid on Friday, October 28th. Stockholders of record on Thursday, October 6th will be issued a GBX 20.95 ($0.27) dividend. This represents a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, October 6th. This is a positive change from Sky Plc’s previous dividend of $12.55.
In other news, insider Lewis,Dave bought 312 shares of the stock in a transaction dated Wednesday, July 27th. The stock was purchased at an average price of GBX 888 ($11.59) per share, for a total transaction of £2,770.56 ($3,616.45). Also, insider Darroch,Jeremy bought 61,793 shares of the stock in a transaction dated Tuesday, August 30th. The stock was purchased at an average price of GBX 864 ($11.28) per share, with a total value of £533,891.52 ($696,895.34).
Sky Plc Company Profile
Sky plc, formerly British Sky Broadcasting Group plc is an entertainment company. The Company serves approximately 21 million customers across five countries: Italy, Germany, Austria, the United Kingdom and Ireland. The Company owns and operates Britain and Ireland’s portfolio of pay television (TV) channels across entertainment, sports, movies and 24-hour news.
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