ValuEngine upgraded shares of SkyWest (NASDAQ:SKYW) from a sell rating to a hold rating in a report published on Monday, February 4th.
A number of other equities research analysts also recently issued reports on SKYW. Zacks Investment Research reiterated a hold rating and set a $63.00 price objective on shares of SkyWest in a research note on Thursday, November 15th. Imperial Capital reiterated an outperform rating and set a $69.00 price objective (up from $63.00) on shares of SkyWest in a research note on Monday, February 4th. BidaskClub upgraded shares of SkyWest from a sell rating to a hold rating in a research note on Tuesday, January 22nd. Raymond James increased their target price on shares of SkyWest from $69.00 to $70.00 and gave the stock a strong-buy rating in a report on Wednesday, October 31st. Finally, Evercore ISI raised shares of SkyWest from an in-line rating to an outperform rating and set a $65.00 target price for the company in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $65.86.
Shares of SKYW opened at $52.89 on Monday. The stock has a market capitalization of $2.89 billion, a PE ratio of 9.98 and a beta of 1.69. SkyWest has a fifty-two week low of $42.38 and a fifty-two week high of $65.80. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.02 and a current ratio of 1.10.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, January 31st. The transportation company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.20. SkyWest had a net margin of 8.70% and a return on equity of 14.87%. The business had revenue of $803.49 million for the quarter, compared to the consensus estimate of $789.62 million. Equities research analysts anticipate that SkyWest will post 5.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.12 per share. This is a positive change from SkyWest’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, March 28th. This represents a $0.48 annualized dividend and a yield of 0.91%. SkyWest’s dividend payout ratio (DPR) is presently 7.55%.
In other news, Director Jerry C. Atkin sold 8,275 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $56.56, for a total transaction of $468,034.00. Following the completion of the sale, the director now owns 697,957 shares of the company’s stock, valued at approximately $39,476,447.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jerry C. Atkin sold 19,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.00, for a total transaction of $1,092,000.00. Following the sale, the director now directly owns 696,232 shares of the company’s stock, valued at approximately $38,988,992. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,775 shares of company stock valued at $2,680,834. Company insiders own 3.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its position in SkyWest by 5.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 87,701 shares of the transportation company’s stock valued at $3,900,000 after purchasing an additional 4,771 shares during the period. Altimeter Capital Management LP acquired a new stake in SkyWest in the 4th quarter valued at $1,023,000. Wakefield Asset Management LLLP grew its position in SkyWest by 41.9% in the 4th quarter. Wakefield Asset Management LLLP now owns 8,261 shares of the transportation company’s stock valued at $367,000 after purchasing an additional 2,438 shares during the period. Thrivent Financial for Lutherans grew its position in SkyWest by 0.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 36,530 shares of the transportation company’s stock valued at $1,624,000 after purchasing an additional 227 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new position in SkyWest during the 4th quarter worth $947,000. 89.87% 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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