SkyWest, Inc. (NASDAQ:SKYW) has been given an average recommendation of “Buy” by the nine ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $50.60.
Several equities research analysts recently weighed in on SKYW shares. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Wednesday, November 22nd. Deutsche Bank increased their price objective on shares of SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Imperial Capital increased their price objective on shares of SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 31st. BidaskClub lowered shares of SkyWest from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, ValuEngine lowered shares of SkyWest from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 4th.
In other SkyWest news, Director Jerry C. Atkin sold 110,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $48.10, for a total value of $5,291,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Russell A. Childs sold 1,766 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $47.22, for a total transaction of $83,390.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,239 shares of company stock worth $7,512,577. 3.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. grew its position in SkyWest by 108.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,488 shares during the last quarter. Riverhead Capital Management LLC grew its position in SkyWest by 81.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock worth $146,000 after purchasing an additional 1,862 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in SkyWest by 10.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock worth $156,000 after purchasing an additional 419 shares during the last quarter. Pitcairn Co. bought a new position in SkyWest in the 3rd quarter worth about $205,000. Finally, Shelton Capital Management bought a new position in SkyWest in the 3rd quarter worth about $218,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.
Shares of SkyWest (NASDAQ SKYW) traded up $0.50 during trading on Thursday, hitting $52.65. 709,091 shares of the stock were exchanged, compared to its average volume of 258,067. The firm has a market cap of $2,729.53, a price-to-earnings ratio of 16.71 and a beta of 1.77. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 1.61. SkyWest has a 1-year low of $30.40 and a 1-year high of $54.17.
SkyWest (NASDAQ:SKYW) last issued its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.03. The business had revenue of $831.93 million for the quarter, compared to analyst estimates of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. equities analysts expect that SkyWest will post 3.32 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 29th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.32 annualized dividend and a yield of 0.61%. SkyWest’s dividend payout ratio (DPR) is -12.26%.
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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