SkyWest Inc. (SKYW) Shares Up 3.2%
SkyWest Inc. (NASDAQ:SKYW)’s share price 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 traded. The stock had previously closed at $28.27.
A number of equities research analysts have recently issued reports on SKYW shares. Zacks Investment Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Raymond James Financial Inc. raised shares of SkyWest from a “mkt perform” rating to an “outperform” rating in a research note on Wednesday, June 1st. Cowen and Company boosted their price target on shares of SkyWest from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, April 29th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $25.00 price target on shares of SkyWest in a research note on Sunday, April 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.43.
The firm’s 50-day moving average price is $26.14 and its 200 day moving average price is $20.81. The firm has a market capitalization of $1.49 billion and a PE ratio of 11.10.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.27. The firm had revenue of $762.07 million for the quarter, compared to analyst estimates of $736.25 million. During the same period in the previous year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that SkyWest Inc. will post $2.55 EPS for the current fiscal year.
The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, June 28th. This is a positive change from SkyWest’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.69%.
In other SkyWest news, Director Henry J. Eyring sold 6,267 shares of SkyWest stock in a transaction 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 directly owns 35,549 shares of the company’s stock, valued at approximately $408,458.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Terry Vais sold 9,562 shares of SkyWest stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $25.00, for a total value of $239,050.00. Following the completion of the transaction, the chief operating officer now directly owns 53,985 shares of the company’s stock, valued at $1,349,625. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. KBC Group NV boosted 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 valued at $1,075,000 after buying an additional 40,737 shares in the last quarter. Systematic Financial Management LP boosted its position 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 valued at $8,013,000 after buying an additional 40,095 shares in the last quarter. Marshall Wace LLP boosted its position 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 valued at $14,395,000 after buying an additional 688,874 shares in the last quarter. Towle & Co. boosted its position in shares of SkyWest by 0.5% in the fourth quarter. Towle & Co. now owns 1,316,969 shares of the company’s stock valued at $25,049,000 after buying an additional 6,040 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of SkyWest during the fourth quarter valued at $18,217,000.
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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