According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest provides passenger and air freight service and completes over 880 daily flights. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest entered into a marketing and code sharing agreement with Continental Airlines, Inc. Which allows SkyWest to operate as a Continental Connection in certain markets in and out of Los Angeles. “
Several other brokerages have also recently issued reports on SKYW. TheStreet cut SkyWest from a b+ rating to a c+ rating in a research note on Thursday, February 2nd. Evercore ISI cut SkyWest from a buy rating to a hold rating and increased their price objective for the stock from $25.00 to $37.00 in a research note on Tuesday, December 6th. Finally, Cowen and Company increased their price objective on SkyWest from $34.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday, December 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $35.20.
SkyWest (NASDAQ:SKYW) traded up 0.28% during mid-day trading on Wednesday, hitting $36.10. The company’s stock had a trading volume of 26,689 shares. The firm’s 50-day moving average is $35.48 and its 200-day moving average is $33.36. SkyWest has a 12-month low of $18.46 and a 12-month high of $39.60. The company’s market cap is $1.87 billion.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. SkyWest had a positive return on equity of 9.35% and a negative net margin of 5.18%. The company had revenue of $758.02 million for the quarter, compared to analysts’ expectations of $754.18 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. SkyWest’s revenue was up .7% compared to the same quarter last year. Analysts predict that SkyWest will post $3.09 EPS for the current fiscal year.
var userip;Your IP Address: document.write(userip);
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Friday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, March 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. This is a positive change from SkyWest’s previous quarterly dividend of $0.05. SkyWest’s dividend payout ratio is currently -6.37%.
In other SkyWest news, COO Michael B. Thompson sold 4,700 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $35.32, for a total transaction of $166,004.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Woodward sold 6,330 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $35.24, for a total value of $223,069.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,081 shares of company stock valued at $675,689. 4.00% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors raised its stake in SkyWest by 3.6% in the third quarter. Nationwide Fund Advisors now owns 307,156 shares of the company’s stock worth $8,112,000 after buying an additional 10,627 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in SkyWest during the fourth quarter worth $10,651,000. Highbridge Capital Management LLC raised its stake in SkyWest by 479.9% in the third quarter. Highbridge Capital Management LLC now owns 53,572 shares of the company’s stock worth $1,415,000 after buying an additional 67,672 shares in the last quarter. LSV Asset Management raised its stake in SkyWest by 6.8% in the third quarter. LSV Asset Management now owns 720,034 shares of the company’s stock worth $19,016,000 after buying an additional 46,123 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in SkyWest during the fourth quarter worth $2,406,000. Institutional investors own 87.19% of the company’s stock.
Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SkyWest Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWest Inc. and related companies with MarketBeat.com's FREE daily email newsletter.