SkyWest Inc. (SKYW) Reaches New 52-Week High at $28.95
SkyWest Inc. (NASDAQ:SKYW) hit a new 52-week high on Wednesday . The stock traded as high as $28.95 and last traded at $28.73, with a volume of 323,911 shares. The stock had previously closed at $28.29.
Several brokerages recently weighed in on SKYW. Cowen and Company upped their price target on SkyWest from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, April 29th. Deutsche Bank AG reissued a “buy” rating on shares of SkyWest in a report on Saturday, April 2nd. Zacks Investment Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Raymond James Financial Inc. raised SkyWest from a “mkt perform” rating to an “outperform” rating in a report on Wednesday, June 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $23.43.
The stock’s 50-day moving average price is $25.75 and its 200 day moving average price is $20.62. The firm has a market cap of $1.46 billion and a PE ratio of 10.88.
SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.27. The company earned $762.07 million during the quarter, compared to analyst estimates of $736.25 million. During the same period last year, the firm earned $0.18 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that SkyWest Inc. will post $2.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 7th. Stockholders of record on Thursday, June 30th were issued a $0.05 dividend. The ex-dividend date was Tuesday, June 28th. This is a positive change from SkyWest’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 0.71%.
In related news, Director Henry J. Eyring sold 6,267 shares of SkyWest stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $11.49, for a total value of $72,007.83. Following the completion of the transaction, the director now owns 35,549 shares in the company, valued at approximately $408,458.01. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Terry Vais sold 9,562 shares of SkyWest stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $25.00, for a total value of $239,050.00. Following the completion of the transaction, the chief operating officer now owns 53,985 shares of the company’s stock, valued at approximately $1,349,625. The disclosure for this sale can be found here.
Several institutional investors have made changes to their positions in SKYW. Rhumbline Advisers raised its position in shares of SkyWest by 0.6% in the fourth quarter. Rhumbline Advisers now owns 84,035 shares of the company’s stock valued at $1,598,000 after buying an additional 505 shares in the last quarter. California State Teachers Retirement System raised its position in shares of SkyWest by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 95,719 shares of the company’s stock valued at $1,821,000 after buying an additional 1,440 shares in the last quarter. New Amsterdam Partners LLC NY raised its position in shares of SkyWest by 0.4% in the fourth quarter. New Amsterdam Partners LLC NY now owns 419,267 shares of the company’s stock valued at $7,974,000 after buying an additional 1,711 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of SkyWest by 1.4% in the fourth quarter. Principal Financial Group Inc. now owns 334,049 shares of the company’s stock valued at $6,354,000 after buying an additional 4,548 shares in the last quarter. Finally, Towle & Co. raised its position in shares of SkyWest by 0.5% in the fourth quarter. Towle & Co. now owns 1,316,969 shares of the company’s stock valued at $25,049,000 after buying an additional 6,040 shares in 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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