SkyWest Inc. (SKYW) Hits New 52-Week High at $27.28
SkyWest Inc. (NASDAQ:SKYW)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $27.28 and last traded at $27.06, with a volume of 185,022 shares traded. The stock had previously closed at $26.93.
A number of brokerages have commented on SKYW. Deutsche Bank AG reaffirmed a “buy” rating on shares of SkyWest in a research note on Saturday, April 2nd. Zacks Investment Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Raymond James Financial Inc. raised shares of SkyWest from a “mkt perform” rating to an “outperform” rating in a research note on Wednesday, June 1st. Finally, Cowen and Company lifted their target price on shares of SkyWest from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, April 29th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.43.
The stock’s 50 day moving average price is $24.82 and its 200-day moving average price is $20.16. The company has a market cap of $1.37 billion and a price-to-earnings ratio of 10.21.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.27. During the same period last year, the company earned $0.18 earnings per share. The company had revenue of $762.07 million for the quarter, compared to analyst estimates of $736.25 million. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts anticipate that SkyWest Inc. will post $2.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Thursday, June 30th were paid a $0.05 dividend. The ex-dividend date was Tuesday, June 28th. This is an increase from SkyWest’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%.
In related news, Director Henry J. Eyring sold 6,267 shares of the stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $11.49, for a total value of $72,007.83. Following the sale, the director now directly owns 35,549 shares of the company’s stock, valued at approximately $408,458.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Terry Vais sold 9,562 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $25.00, for a total transaction of $239,050.00. Following the completion of the sale, the chief operating officer now directly owns 53,985 shares in the company, valued at $1,349,625. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of SKYW. Victory Capital Management Inc. acquired a new stake in shares of SkyWest during the fourth quarter worth approximately $18,217,000. Marshall Wace LLP boosted its stake in shares of SkyWest by 1,013.8% in the fourth quarter. Marshall Wace LLP now owns 756,825 shares of the company’s stock worth $14,395,000 after buying an additional 688,874 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of SkyWest by 345.1% in the fourth quarter. Wells Fargo & Company MN now owns 67,080 shares of the company’s stock worth $1,276,000 after buying an additional 52,009 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of SkyWest by 10.5% in the fourth quarter. Systematic Financial Management LP now owns 421,330 shares of the company’s stock worth $8,013,000 after buying an additional 40,095 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of SkyWest by 9.2% in the fourth quarter. New York State Common Retirement Fund now owns 425,965 shares of the company’s stock worth $8,102,000 after buying an additional 35,886 shares during the last quarter.
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.
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