Analysts expect that SkyWest, Inc. (NASDAQ:SKYW) will report earnings of $1.41 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for SkyWest’s earnings, with the lowest EPS estimate coming in at $1.35 and the highest estimate coming in at $1.45. SkyWest posted earnings per share of $1.01 in the same quarter last year, which suggests a positive year over year growth rate of 39.6%. The firm is scheduled to report its next earnings results on Wednesday, October 24th.
On average, analysts expect that SkyWest will report full year earnings of $4.92 per share for the current year, with EPS estimates ranging from $4.85 to $5.00. For the next fiscal year, analysts expect that the firm will post earnings of $5.48 per share, with EPS estimates ranging from $4.90 to $5.90. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover SkyWest.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.20. The business had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $795.19 million. SkyWest had a return on equity of 13.20% and a net margin of 14.73%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.95 EPS.
Several brokerages have weighed in on SKYW. Cowen lifted their price objective on SkyWest from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, July 27th. BidaskClub cut SkyWest from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. ValuEngine cut SkyWest from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research raised SkyWest from a “sell” rating to a “hold” rating and set a $69.00 price objective for the company in a report on Monday, July 30th. Finally, Imperial Capital lifted their price objective on SkyWest from $60.00 to $63.00 and gave the company an “inline” rating in a report on Monday, July 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.60.
In other SkyWest news, COO Terry Vais sold 8,241 shares of SkyWest stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $60.01, for a total value of $494,542.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Russell A. Childs sold 17,056 shares of SkyWest stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $59.90, for a total value of $1,021,654.40. The disclosure for this sale can be found here. Insiders sold a total of 107,455 shares of company stock valued at $6,468,863 over the last ninety days. Insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Mount Yale Investment Advisors LLC bought a new position in shares of SkyWest in the 1st quarter valued at $105,000. Meeder Asset Management Inc. increased its stake in shares of SkyWest by 403.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,598 shares of the transportation company’s stock valued at $187,000 after purchasing an additional 2,883 shares during the last quarter. Natixis bought a new position in shares of SkyWest in the 1st quarter valued at $207,000. CAMG Solamere Management LLC bought a new position in shares of SkyWest in the 1st quarter valued at $216,000. Finally, Burney Co. bought a new position in shares of SkyWest in the 2nd quarter valued at $229,000. Institutional investors own 89.15% of the company’s stock.
NASDAQ:SKYW opened at $58.90 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of 17.17 and a beta of 1.65. The company has a quick ratio of 0.97, a current ratio of 1.11 and a debt-to-equity ratio of 1.41. SkyWest has a 1-year low of $42.85 and a 1-year high of $65.80.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Friday, September 28th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 0.68%. SkyWest’s dividend payout ratio is presently 11.66%.
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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