Analysts forecast that SkyWest, Inc. (NASDAQ:SKYW) will post earnings per share of $1.06 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for SkyWest’s earnings, with estimates ranging from $1.02 to $1.11. SkyWest reported earnings of $0.81 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 30.9%. The firm is expected to report its next earnings report on Thursday, February 7th.
According to Zacks, analysts expect that SkyWest will report full year earnings of $5.09 per share for the current financial year, with EPS estimates ranging from $5.05 to $5.14. For the next financial year, analysts forecast that the business will post earnings of $5.49 per share, with EPS estimates ranging from $5.35 to $5.55. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for SkyWest.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Tuesday, October 30th. The transportation company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $825.57 million. SkyWest had a return on equity of 13.99% and a net margin of 15.65%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share.
A number of research analysts have recently weighed in on SKYW shares. BidaskClub raised SkyWest from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research lowered SkyWest from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Raymond James raised their target price on SkyWest from $69.00 to $70.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 31st. Imperial Capital raised their target price on SkyWest from $60.00 to $63.00 and gave the stock an “inline” rating in a report on Monday, July 30th. Finally, Deutsche Bank raised their target price on SkyWest from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $67.17.
Shares of SKYW stock traded down $1.37 during mid-day trading on Friday, reaching $56.60. The stock had a trading volume of 182,551 shares, compared to its average volume of 245,559. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 1.15. The firm has a market capitalization of $3.02 billion, a PE ratio of 16.50 and a beta of 1.56. SkyWest has a 1-year low of $45.65 and a 1-year high of $65.80.
In other SkyWest news, COO Terry Vais sold 1,600 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $64.43, for a total transaction of $103,088.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKYW. First Quadrant L P CA purchased a new position in shares of SkyWest in the third quarter valued at approximately $150,000. Meeder Asset Management Inc. lifted its position in shares of SkyWest by 403.2% in the second quarter. Meeder Asset Management Inc. now owns 3,598 shares of the transportation company’s stock valued at $187,000 after acquiring an additional 2,883 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of SkyWest in the third quarter valued at approximately $209,000. Ifrah Financial Services Inc. purchased a new position in shares of SkyWest in the third quarter valued at approximately $213,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of SkyWest in the third quarter valued at approximately $226,000. Institutional investors and hedge funds own 89.72% of the company’s stock.
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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