Wall Street analysts predict that SkyWest, Inc. (NASDAQ:SKYW) will announce earnings of $1.55 per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for SkyWest’s earnings, with the lowest EPS estimate coming in at $1.50 and the highest estimate coming in at $1.57. SkyWest reported earnings of $1.43 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 8.4%. The business is expected to issue its next earnings report on Thursday, July 25th.
According to Zacks, analysts expect that SkyWest will report full year earnings of $5.86 per share for the current fiscal year, with EPS estimates ranging from $5.75 to $5.91. For the next fiscal year, analysts anticipate that the business will report earnings of $6.23 per share, with EPS estimates ranging from $5.80 to $6.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover SkyWest.
SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, April 25th. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.18. SkyWest had a return on equity of 14.87% and a net margin of 8.70%. The company had revenue of $723.69 million for the quarter, compared to the consensus estimate of $693.32 million. During the same quarter in the prior year, the company earned $1.03 earnings per share. SkyWest’s revenue was down 7.6% on a year-over-year basis.
A number of research analysts have weighed in on the company. BidaskClub raised SkyWest from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Zacks Investment Research raised SkyWest from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a report on Monday, January 21st. ValuEngine raised SkyWest from a “sell” rating to a “hold” rating in a report on Saturday, March 30th. Imperial Capital reissued an “outperform” rating and issued a $69.00 target price (up previously from $63.00) on shares of SkyWest in a report on Monday, February 4th. Finally, Cowen restated an “outperform” rating and issued a $61.00 price target (down previously from $66.00) on shares of SkyWest in a research report on Thursday, January 10th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $66.13.
In other SkyWest news, Director Jerry C. Atkin sold 20,000 shares of the company’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $56.04, for a total value of $1,120,800.00. Following the completion of the sale, the director now owns 697,957 shares in the company, valued at $39,113,510.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jerry C. Atkin sold 8,275 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $56.56, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders 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 institutional investors and hedge funds have recently modified their holdings of SKYW. Morgan Stanley increased its position in SkyWest by 81.6% in the third quarter. Morgan Stanley now owns 522,121 shares of the transportation company’s stock worth $30,754,000 after buying an additional 234,672 shares in the last quarter. BlackRock Inc. grew its position in shares of SkyWest by 3.2% during the fourth quarter. BlackRock Inc. now owns 7,498,883 shares of the transportation company’s stock worth $333,476,000 after purchasing an additional 229,051 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of SkyWest by 55.0% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 501,601 shares of the transportation company’s stock worth $22,306,000 after purchasing an additional 178,000 shares in the last quarter. Vanguard Group Inc grew its position in shares of SkyWest by 1.5% during the third quarter. Vanguard Group Inc now owns 6,338,468 shares of the transportation company’s stock worth $373,336,000 after purchasing an additional 95,262 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of SkyWest by 1.5% during the third quarter. Vanguard Group Inc. now owns 6,338,468 shares of the transportation company’s stock worth $373,336,000 after purchasing an additional 95,262 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.
SKYW stock traded up $1.93 during trading on Friday, reaching $60.37. The stock had a trading volume of 300,630 shares, compared to its average volume of 261,922. SkyWest has a 52 week low of $42.38 and a 52 week high of $65.80. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 1.10. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 11.39 and a beta of 1.75.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 29th were given a $0.12 dividend. This is a boost from SkyWest’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.48 dividend on an annualized basis and a yield of 0.80%. SkyWest’s dividend payout ratio is presently 9.06%.
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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