SkyWest, Inc. (SKYW) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of SkyWest, Inc. (NASDAQ:SKYW) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $45.00 price objective on the transportation company’s stock.
According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest provides passenger and air freight service and completes over 880 daily flights. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest entered into a marketing and code sharing agreement with Continental Airlines, Inc. Which allows SkyWest to operate as a Continental Connection in certain markets in and out of Los Angeles. “
SKYW has been the topic of several other research reports. BidaskClub downgraded shares of SkyWest from a sell rating to a strong sell rating in a report on Tuesday, August 22nd. ValuEngine upgraded shares of SkyWest from a buy rating to a strong-buy rating in a report on Monday. Finally, Cowen and Company boosted their price objective on shares of SkyWest from $40.00 to $44.00 and gave the stock an outperform rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and three have given a strong buy rating to the company’s stock. SkyWest has an average rating of Buy and an average target price of $42.17.
Shares of SkyWest (SKYW) traded down 0.24% during trading on Wednesday, hitting $42.00. 124,200 shares of the stock traded hands. The company’s market cap is $2.18 billion. The firm has a 50 day moving average price of $36.23 and a 200-day moving average price of $35.67. SkyWest has a one year low of $25.04 and a one year high of $42.28.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. The company had revenue of $809.76 million for the quarter, compared to the consensus estimate of $790.14 million. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that SkyWest will post $3.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. SkyWest’s dividend payout ratio (DPR) is currently -11.31%.
Institutional investors have recently modified their holdings of the company. United Services Automobile Association acquired a new stake in shares of SkyWest during the 1st quarter valued at about $421,000. Vanguard Group Inc. boosted its position in shares of SkyWest by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 5,788,450 shares of the transportation company’s stock valued at $198,255,000 after acquiring an additional 198,452 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of SkyWest by 2.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 481,156 shares of the transportation company’s stock valued at $16,480,000 after acquiring an additional 10,823 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in shares of SkyWest by 3,410.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 342,155 shares of the transportation company’s stock valued at $9,748,000 after acquiring an additional 332,407 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of SkyWest by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 759,204 shares of the transportation company’s stock valued at $26,648,000 after acquiring an additional 14,217 shares in the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.
SkyWest Company Profile
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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