SkyWest Inc. (SKYW) Shares Up 3.2%
Shares of SkyWest Inc. (NASDAQ:SKYW) shot up 3.2% during trading on Friday . The company traded as high as $29.33 and last traded at $29.18, with a volume of 275,262 shares. The stock had previously closed at $28.27.
A number of research firms have recently commented on SKYW. Cowen and Company lifted their target price on SkyWest from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, April 29th. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Friday, April 15th. Raymond James Financial Inc. upgraded SkyWest from a “mkt perform” rating to an “outperform” rating in a research report on Wednesday, June 1st. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of SkyWest in a research report on Saturday, April 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. SkyWest currently has a consensus rating of “Buy” and an average price target of $23.43.
The company has a market cap of $1.49 billion and a PE ratio of 11.10. The stock has a 50-day moving average price of $26.14 and a 200-day moving average price of $20.81.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.27. The firm earned $762.07 million during the quarter, compared to analysts’ expectations of $736.25 million. During the same period in the previous year, the company earned $0.18 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that SkyWest Inc. will post $2.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 7th. Shareholders of record on Thursday, June 30th were given a $0.05 dividend. The ex-dividend date was Tuesday, June 28th. 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 yield of 0.69%.
In other SkyWest news, Director Jerry C. Atkin sold 13,000 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were 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 directly owns 777,256 shares of the company’s stock, valued at approximately $18,537,555.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Henry J. Eyring sold 6,267 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $11.49, for a total transaction of $72,007.83. Following the completion of the transaction, the director now directly owns 35,549 shares of the company’s stock, valued at $408,458.01. The disclosure for this sale can be found here.
Several large investors recently modified their holdings of SKYW. Victory Capital Management Inc. bought a new stake in shares of SkyWest during the fourth quarter worth about $18,217,000. Towle & Co. raised its stake in shares of SkyWest by 0.5% in the fourth quarter. Towle & Co. now owns 1,316,969 shares of the company’s stock worth $25,049,000 after buying an additional 6,040 shares during the period. Marshall Wace LLP raised its stake in shares of 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 during the period. New Amsterdam Partners LLC NY raised its stake in shares of SkyWest by 0.4% in the fourth quarter. New Amsterdam Partners LLC NY now owns 419,267 shares of the company’s stock worth $7,974,000 after buying an additional 1,711 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.