SkyWest Inc. (SKYW) Hits New 52-Week High at $28.37
SkyWest Inc. (NASDAQ:SKYW) reached a new 52-week high on Tuesday . The company traded as high as $28.37 and last traded at $27.95, with a volume of 163,309 shares changing hands. The stock had previously closed at $27.48.
A number of equities research analysts have recently weighed in on SKYW shares. Zacks Investment Research lowered SkyWest from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Deutsche Bank AG reissued a “buy” rating and issued a $25.00 target price on shares of SkyWest in a research note on Sunday, April 10th. Raymond James Financial Inc. boosted their target price on SkyWest to $23.00 in a research note on Friday, March 25th. Finally, Cowen and Company boosted their target price on SkyWest from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, April 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. SkyWest currently has an average rating of “Buy” and a consensus price target of $23.43.
The stock’s 50-day moving average price is $25.28 and its 200 day moving average price is $20.37. The firm has a market cap of $1.43 billion and a P/E ratio of 10.67.
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 business had revenue of $762.07 million for the quarter, compared to analysts’ expectations of $736.25 million. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 earnings per share. Analysts forecast that SkyWest Inc. will post $2.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Thursday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.72%. This is a positive change from SkyWest’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, June 28th.
In other SkyWest news, Director Jerry C. Atkin sold 13,000 shares of SkyWest stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $23.85, for a total value of $310,050.00. Following the transaction, the director now directly owns 777,256 shares of the company’s stock, valued at $18,537,555.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Terry Vais sold 9,562 shares of SkyWest stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $25.00, for a total transaction of $239,050.00. Following the completion of the transaction, 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 institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised 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 valued at $1,276,000 after buying an additional 52,009 shares in the last quarter. Nationwide Fund Advisors raised its position in SkyWest by 84.5% in the fourth quarter. Nationwide Fund Advisors now owns 76,400 shares of the company’s stock valued at $1,453,000 after buying an additional 34,993 shares in the last quarter. Rhumbline Advisers raised its position in 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 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. Finally, Principal Financial Group Inc. raised its position in 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.
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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