SkyWest Inc. (SKYW) Shares Up 2.9%
SkyWest Inc. (NASDAQ:SKYW) shot up 2.9% during mid-day trading on Tuesday . The company traded as high as $28.30 and last traded at $28.13, with a volume of 247,395 shares. The stock had previously closed at $27.34.
A number of research firms have issued reports on SKYW. Zacks Investment Research lowered shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Raymond James Financial Inc. upgraded shares of SkyWest from a “mkt perform” rating to an “outperform” rating in a report on Wednesday, June 1st. Finally, Deutsche Bank AG increased their target price on shares of SkyWest from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Five investment analysts have rated the stock with a buy rating, SkyWest presently has a consensus rating of “Buy” and a consensus price target of $28.40.
The firm’s 50 day moving average price is $28.14 and its 200 day moving average price is $23.44. The stock has a market cap of $1.46 billion and a price-to-earnings ratio of 10.18.
SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. The company earned $801.34 million during the quarter, compared to analysts’ expectations of $764.04 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. SkyWest’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that SkyWest Inc. will post $2.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.71%.
In related news, Director Henry J. Eyring sold 6,267 shares of the business’s stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $11.49, for a total value of $72,007.83. Following the completion of the sale, the director now directly owns 35,549 shares in the company, valued at $408,458.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jerry C. Atkin sold 13,965 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $28.36, for a total transaction of $396,047.40. The disclosure for this sale can be found here.
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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