SkyWest Inc. (SKYW) Trading Down 2.8%
SkyWest Inc. (NASDAQ:SKYW)’s share price dropped 2.8% during trading on Friday . The company traded as low as $27.16 and last traded at $27.20, with a volume of 158,624 shares changing hands. The stock had previously closed at $27.98.
SKYW has been the subject of a number of research analyst reports. Deutsche Bank AG increased their target price on SkyWest from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 29th. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $32.00 target price 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 report on Wednesday, June 1st. Finally, Cowen and Company increased their target price on SkyWest from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, April 29th. Five analysts have rated the stock with a buy rating, SkyWest presently has an average rating of “Buy” and an average price target of $28.40.
The company’s 50 day moving average is $28.11 and its 200-day moving average is $23.10. The company has a market capitalization of $1.41 billion and a PE ratio of 9.84.
SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The company earned $801.34 million during the quarter, compared to analyst estimates of $764.04 million. During the same quarter last year, the firm earned $0.61 EPS. The business’s revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that SkyWest Inc. will post $2.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, September 28th.
In other SkyWest news, insider Wade J. Steel sold 9,292 shares of SkyWest stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $28.56, for a total value of $265,379.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert J. Simmons acquired 1,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was acquired at an average cost of $27.69 per share, for a total transaction of $27,690.00. The disclosure for this purchase can be found here.
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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