SkyWest Inc. (SKYW) Trading Up 1.3%
SkyWest Inc. (NASDAQ:SKYW)’s share price was up 1.3% during mid-day trading on Wednesday . The stock traded as high as $28.18 and last traded at $28.14, with a volume of 109,294 shares changing hands. The stock had previously closed at $27.79.
Several equities analysts have issued reports on SKYW shares. Deutsche Bank AG boosted their price objective on shares of SkyWest from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, August 2nd. Raymond James Financial Inc. upgraded shares of SkyWest from a “mkt perform” rating to an “outperform” rating in a research report on Wednesday, June 1st. Finally, Cowen and Company boosted their target price on shares of SkyWest from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, April 29th. Five equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $28.40.
The firm has a market cap of $1.45 billion and a price-to-earnings ratio of 10.17. The company has a 50 day moving average of $27.84 and a 200-day moving average of $22.46.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.10. During the same quarter in the previous year, the company earned $0.61 earnings per share. The business had revenue of $801.34 million for the quarter, compared to analysts’ expectations of $764.04 million. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts anticipate that SkyWest Inc. will post $2.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.20 annualized dividend and a yield of 0.71%.
In other news, COO Terry Vais sold 8,195 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $23.87, for a total transaction of $195,614.65. Following the completion of the sale, the chief operating officer now directly owns 46,252 shares in the company, valued at $1,104,035.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Wade J. Steel sold 9,292 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $28.56, for a total transaction of $265,379.52. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in SkyWest by 0.6% in the fourth quarter. Rhumbline Advisers now owns 84,035 shares of the company’s stock worth $1,598,000 after buying an additional 505 shares in the last quarter. Systematic Financial Management LP raised its stake in 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 in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in SkyWest during the fourth quarter worth $18,217,000.
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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