Brokerages expect SkyWest, Inc. (NASDAQ:SKYW) to announce earnings per share (EPS) of $0.71 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for SkyWest’s earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.76. SkyWest reported earnings per share of $0.54 in the same quarter last year, which suggests a positive year over year growth rate of 31.5%. The business is expected to announce its next earnings report on Thursday, February 1st.
On average, analysts expect that SkyWest will report full-year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.38. For the next fiscal year, analysts expect that the firm will post earnings of $4.14 per share, with EPS estimates ranging from $3.85 to $4.50. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover SkyWest.
SkyWest (NASDAQ:SKYW) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.03. The firm had revenue of $831.93 million during the quarter, compared to analysts’ expectations of $817.43 million. SkyWest had a positive return on equity of 11.87% and a negative net margin of 4.15%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS.
A number of equities analysts have recently commented on the company. Cowen reiterated a “buy” rating and issued a $60.00 target price on shares of SkyWest in a report on Tuesday, January 9th. BidaskClub lowered SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research raised SkyWest from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research note on Thursday. Finally, Imperial Capital raised their price target on SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $52.20.
Shares of SkyWest (NASDAQ SKYW) traded up $1.50 during trading on Friday, hitting $54.75. The stock had a trading volume of 341,260 shares, compared to its average volume of 266,588. The stock has a market cap of $2,838.40, a PE ratio of -20.98 and a beta of 1.77. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 1.61. SkyWest has a 12-month low of $30.40 and a 12-month high of $55.15.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 29th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, December 28th. SkyWest’s dividend payout ratio is currently -12.26%.
In related news, Director Jerry C. Atkin sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $48.10, for a total transaction of $5,291,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wade J. Steel sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total value of $211,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 154,239 shares of company stock valued at $7,512,577 over the last three months. 3.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its position in SkyWest by 2.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 480,150 shares of the transportation company’s stock valued at $21,079,000 after purchasing an additional 13,740 shares in the last quarter. Legal & General Group Plc raised its position in shares of SkyWest by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock worth $3,277,000 after acquiring an additional 7,821 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of SkyWest in the 2nd quarter worth $708,000. Goldman Sachs Group Inc. raised its position in shares of SkyWest by 45.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 142,553 shares of the transportation company’s stock worth $5,003,000 after acquiring an additional 44,246 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of SkyWest by 5.7% in the 3rd quarter. American International Group Inc. now owns 40,325 shares of the transportation company’s stock worth $1,770,000 after acquiring an additional 2,190 shares in the last quarter. 90.75% of the stock is owned by institutional investors and hedge funds.
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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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