Wall Street brokerages predict that SkyWest, Inc. (NASDAQ:SKYW) will post earnings of $1.43 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for SkyWest’s earnings, with the highest EPS estimate coming in at $1.51 and the lowest estimate coming in at $1.33. SkyWest posted earnings of $1.28 per share during the same quarter last year, which would suggest a positive year over year growth rate of 11.7%. The firm is scheduled to issue its next earnings results on Thursday, January 30th.
On average, analysts expect that SkyWest will report full-year earnings of $6.22 per share for the current financial year, with EPS estimates ranging from $6.15 to $6.27. For the next financial year, analysts expect that the firm will post earnings of $6.61 per share, with EPS estimates ranging from $6.40 to $6.79. 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 announced its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.05. The firm had revenue of $760.30 million for the quarter, compared to analysts’ expectations of $752.93 million. SkyWest had a net margin of 11.04% and a return on equity of 15.52%. SkyWest’s revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 earnings per share.
A number of analysts recently issued reports on SKYW shares. ValuEngine lowered shares of SkyWest from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Evercore ISI restated a “buy” rating and issued a $72.00 price target on shares of SkyWest in a research note on Thursday, August 8th. Stephens started coverage on shares of SkyWest in a research note on Monday, November 4th. They issued an “overweight” rating and a $75.00 price target for the company. Finally, BidaskClub upgraded shares of SkyWest from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. SkyWest has an average rating of “Buy” and an average target price of $67.29.
SKYW stock traded down $0.04 during midday trading on Friday, reaching $63.15. 167,300 shares of the company’s stock traded hands, compared to its average volume of 225,054. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.84 and a quick ratio of 0.72. The business has a 50-day moving average price of $57.91 and a two-hundred day moving average price of $58.91. The company has a market capitalization of $3.22 billion, a P/E ratio of 11.92 and a beta of 1.58. SkyWest has a fifty-two week low of $42.38 and a fifty-two week high of $63.69.
In other SkyWest news, COO Michael B. Thompson sold 5,523 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $60.19, for a total transaction of $332,429.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry C. Atkin sold 10,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $60.07, for a total transaction of $600,700.00. Following the sale, the director now owns 467,109 shares of the company’s stock, valued at approximately $28,059,237.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,553 shares of company stock valued at $1,955,270. 3.60% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in SKYW. Atria Investments LLC bought a new position in shares of SkyWest during the second quarter worth about $229,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SkyWest during the second quarter worth about $176,000. Natixis bought a new position in shares of SkyWest during the second quarter worth about $1,015,000. Bank of Montreal Can grew its position in shares of SkyWest by 122.6% during the second quarter. Bank of Montreal Can now owns 8,030 shares of the transportation company’s stock worth $487,000 after acquiring an additional 4,422 shares during the last quarter. Finally, Magnus Financial Group LLC grew its position in shares of SkyWest by 7.8% during the second quarter. Magnus Financial Group LLC now owns 4,234 shares of the transportation company’s stock worth $257,000 after acquiring an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 90.04% 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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