SkyWest Inc. (SKYW) Reaches New 52-Week High at $28.37
SkyWest Inc. (NASDAQ:SKYW) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.37 and last traded at $27.95, with a volume of 163,309 shares. The stock had previously closed at $27.48.
A number of research analysts recently issued reports on SKYW shares. Deutsche Bank AG reissued a “buy” rating and set a $25.00 price objective on shares of SkyWest in a report on Sunday, April 10th. Zacks Investment Research cut shares of SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Raymond James Financial Inc. raised their price objective on shares of SkyWest to $23.00 in a report on Friday, March 25th. Finally, Cowen and Company raised their price objective on shares of SkyWest from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, April 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. SkyWest has an average rating of “Buy” and a consensus price target of $23.43.
The company’s 50-day moving average price is $25.04 and its 200 day moving average price is $20.26. The firm has a market cap of $1.44 billion and a price-to-earnings ratio of 10.73.
SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, April 28th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.27. The business had revenue of $762.07 million for the quarter, compared to analyst estimates of $736.25 million. During the same period last year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict that SkyWest Inc. will post $2.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Thursday, June 30th were given a dividend of $0.05 per share. This is a positive change from SkyWest’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Tuesday, June 28th.
In other SkyWest news, Director Henry J. Eyring sold 6,267 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry C. Atkin sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $23.85, for a total value of $310,050.00. Following the completion of the transaction, the director now owns 777,256 shares of the company’s stock, valued at approximately $18,537,555.60. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in SkyWest during the fourth quarter worth $18,217,000. Marshall Wace LLP boosted its position in 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 in the last quarter. Wells Fargo & Company MN boosted its position in 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 in the last quarter. Systematic Financial Management LP boosted its position 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, New York State Common Retirement Fund boosted its position in 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 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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