SkyWest, Inc. (NASDAQ:SKYW) has been assigned an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $46.60.
A number of research analysts have issued reports on SKYW shares. Imperial Capital lifted their price objective on SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a report on Tuesday, October 31st. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Thursday, November 9th. Cowen and Company lifted their price objective on SkyWest from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, October 2nd. Deutsche Bank AG lifted their price objective on SkyWest from $47.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a report on Monday, September 18th.
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SkyWest (SKYW) traded up $0.70 on Friday, reaching $50.30. 241,460 shares of the company’s stock were exchanged, compared to its average volume of 350,883. SkyWest has a 1 year low of $30.40 and a 1 year high of $50.40. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a market capitalization of $2,607.68, a P/E ratio of 15.97 and a beta of 1.74.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.03. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The firm had revenue of $831.93 million for the quarter, compared to the consensus estimate of $817.43 million. During the same quarter in the previous year, the company earned $0.90 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. analysts forecast that SkyWest will post 3.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.64%. SkyWest’s payout ratio is presently -12.26%.
In related news, insider Wade J. Steel sold 4,500 shares of SkyWest stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total value of $211,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Russell A. Childs sold 1,766 shares of SkyWest stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total value of $83,390.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,134 shares of company stock valued at $571,156. Company insiders own 3.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its holdings in shares of SkyWest by 9.1% in the second quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock valued at $3,277,000 after buying an additional 7,821 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of SkyWest by 31.1% in the second quarter. Systematic Financial Management LP now owns 234,089 shares of the transportation company’s stock valued at $8,217,000 after buying an additional 55,514 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of SkyWest by 1.9% in the second quarter. Victory Capital Management Inc. now owns 759,204 shares of the transportation company’s stock valued at $26,648,000 after buying an additional 14,217 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of SkyWest by 45.0% in the second quarter. Goldman Sachs Group Inc. now owns 142,553 shares of the transportation company’s stock valued at $5,003,000 after buying an additional 44,246 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of SkyWest in the second quarter valued at about $708,000. 88.95% of the stock is owned by institutional investors and hedge funds.
SkyWest Company Profile
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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