SkyWest Inc. (SKYW) Reaches New 12-Month High at $28.95
SkyWest Inc. (NASDAQ:SKYW) shares reached 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 trading hands. The stock had previously closed at $28.29.
Several research firms recently weighed in on SKYW. Zacks Investment Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Raymond James Financial Inc. raised SkyWest from a “mkt perform” rating to an “outperform” rating in a research report on Wednesday, June 1st. Cowen and Company upped their price target on SkyWest from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, April 29th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of SkyWest in a research report on Saturday, April 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. SkyWest currently has a consensus rating of “Buy” and an average target price of $23.43.
The company has a 50 day moving average price of $26.01 and a 200 day moving average price of $20.73. The stock has a market capitalization of $1.45 billion and a P/E ratio of 10.81.
SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, April 28th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm posted $0.18 EPS. SkyWest’s revenue was up .2% compared to the same quarter last year. Analysts expect that SkyWest Inc. will post $2.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Thursday, June 30th were given a $0.05 dividend. This is an increase from SkyWest’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, June 28th.
In other SkyWest news, COO Terry Vais sold 9,562 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 53,985 shares of the company’s stock, valued at $1,349,625. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Henry J. Eyring sold 6,267 shares of the business’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 transaction, the director now directly owns 35,549 shares in the company, valued at approximately $408,458.01. The disclosure for this sale can be found here.
A number of institutional investors have made changes to their positions in the company. KBC Group NV increased its position in shares of SkyWest by 257.9% in the fourth quarter. KBC Group NV now owns 56,530 shares of the company’s stock worth $1,075,000 after buying an additional 40,737 shares during the period. Nationwide Fund Advisors increased its position in shares of SkyWest by 84.5% in the fourth quarter. Nationwide Fund Advisors now owns 76,400 shares of the company’s stock worth $1,453,000 after buying an additional 34,993 shares during the period. Rhumbline Advisers increased 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 worth $1,598,000 after buying an additional 505 shares during the period. California State Teachers Retirement System increased 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 worth $1,821,000 after buying an additional 1,440 shares during the period. Finally, Principal Financial Group Inc. increased 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 worth $6,354,000 after buying an additional 4,548 shares during the period.
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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