SkyWest Inc. (SKYW) Shares Up 1.3%
Shares of SkyWest Inc. (NASDAQ:SKYW) shot up 1.3% during mid-day trading on Wednesday . The stock traded as high as $28.18 and last traded at $28.14, with a volume of 109,294 shares changing hands. The stock had previously closed at $27.79.
Several research firms have issued reports on SKYW. Cowen and Company boosted their price target on SkyWest from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, April 29th. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, August 2nd. Raymond James Financial Inc. raised SkyWest from a “mkt perform” rating to an “outperform” rating in a research note on Wednesday, June 1st. Finally, Deutsche Bank AG upped their price objective on SkyWest from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Five analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $28.40.
The company has a 50 day moving average price of $27.99 and a 200-day moving average price of $22.54. The stock has a market cap of $1.45 billion and a P/E ratio of 10.16.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. The company had revenue of $801.34 million for the quarter, compared to analysts’ expectations of $764.04 million. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. Analysts anticipate that SkyWest Inc. will post $2.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.71%.
In other SkyWest news, CEO Russell A. Childs sold 21,516 shares of SkyWest stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $28.79, for a total transaction of $619,445.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wade J. Steel sold 9,292 shares of SkyWest stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $28.56, for a total value of $265,379.52. The disclosure for this sale can be found here.
An institutional investor recently raised its position in SkyWest stock. Rhumbline Advisers increased its position in shares of SkyWest Inc. (NASDAQ:SKYW) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,035 shares of the company’s stock after buying an additional 505 shares during the period. Rhumbline Advisers owned 0.17% of SkyWest worth $1,598,000 as of its most recent filing with the SEC.
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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