CIBC World Markets Inc. bought a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,097 shares of the transportation company’s stock, valued at approximately $1,148,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eaton Vance Management bought a new stake in shares of SkyWest in the 4th quarter valued at about $5,847,000. Deutsche Bank AG lifted its stake in shares of SkyWest by 65.1% in the 4th quarter. Deutsche Bank AG now owns 205,592 shares of the transportation company’s stock valued at $10,914,000 after acquiring an additional 81,083 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of SkyWest by 16.0% in the 4th quarter. Rhumbline Advisers now owns 122,657 shares of the transportation company’s stock valued at $6,513,000 after acquiring an additional 16,928 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of SkyWest by 33.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 12,934 shares of the transportation company’s stock valued at $687,000 after acquiring an additional 3,207 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of SkyWest in the 4th quarter valued at about $421,000. 89.25% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on SKYW. BidaskClub raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 21st. Imperial Capital boosted their target price on SkyWest from $55.00 to $60.00 and gave the company a “line” rating in a research note on Monday, April 30th. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Thursday, April 19th. Cowen boosted their target price on SkyWest from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, April 27th. Finally, ValuEngine lowered SkyWest from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $61.20.
SkyWest opened at $51.90 on Friday, according to MarketBeat.com. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 15.13 and a beta of 1.70. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.14 and a quick ratio of 1.00. SkyWest, Inc. has a one year low of $31.75 and a one year high of $60.65.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, April 26th. The transportation company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.17. The business had revenue of $783.40 million during the quarter, compared to analyst estimates of $767.41 million. SkyWest had a return on equity of 12.52% and a net margin of 13.92%. SkyWest’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS. equities research analysts forecast that SkyWest, Inc. will post 4.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Friday, June 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, June 28th. SkyWest’s payout ratio is 11.66%.
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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