State Board of Administration of Florida Retirement System Holds Holdings in SkyWest, Inc. (SKYW)
State Board of Administration of Florida Retirement System continued to hold its position in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 39,398 shares of the transportation company’s stock at the end of the 2nd quarter. State Board of Administration of Florida Retirement System owned about 0.08% of SkyWest worth $1,383,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKYW. Flinton Capital Management LLC increased its holdings in shares of SkyWest by 3.3% during the first quarter. Flinton Capital Management LLC now owns 3,162 shares of the transportation company’s stock valued at $108,000 after acquiring an additional 102 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of SkyWest by 10.0% during the first quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock valued at $126,000 after acquiring an additional 334 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of SkyWest during the first quarter valued at approximately $138,000. Laurion Capital Management LP bought a new stake in shares of SkyWest during the first quarter valued at approximately $202,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of SkyWest during the fourth quarter valued at approximately $245,000. Hedge funds and other institutional investors own 89.44% of the company’s stock.
Several equities research analysts have recently commented on SKYW shares. ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. BidaskClub downgraded SkyWest from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. TheStreet upgraded SkyWest from a “c+” rating to a “b-” rating in a report on Monday, May 22nd. Finally, Cowen and Company reiterated an “outperform” rating and set a $44.00 price target (up previously from $40.00) on shares of SkyWest in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $41.67.
Shares of SkyWest, Inc. (NASDAQ:SKYW) opened at 39.80 on Friday. The company’s 50-day moving average price is $36.03 and its 200 day moving average price is $35.61. The company’s market cap is $2.06 billion. SkyWest, Inc. has a one year low of $25.04 and a one year high of $39.85.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The company had revenue of $809.76 million during the quarter, compared to analyst estimates of $790.14 million. During the same quarter last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that SkyWest, Inc. will post $3.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, September 28th. SkyWest’s dividend payout ratio (DPR) is presently -11.31%.
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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