Pinebridge Investments L.P. Cuts Position in SkyWest, Inc. (SKYW)
Pinebridge Investments L.P. reduced its position in SkyWest, Inc. (NASDAQ:SKYW) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,705 shares of the transportation company’s stock after selling 2,134 shares during the quarter. Pinebridge Investments L.P. owned about 0.12% of SkyWest worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of SKYW. UBS Asset Management Americas Inc. purchased a new position in shares of SkyWest in the 4th quarter worth $245,000. Bank of Montreal Can raised its position in shares of SkyWest by 10.0% in the 1st quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock worth $126,000 after buying an additional 334 shares during the period. Great West Life Assurance Co. Can raised its position in shares of SkyWest by 7.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 69,624 shares of the transportation company’s stock worth $2,381,000 after buying an additional 4,731 shares during the period. US Bancorp DE raised its position in shares of SkyWest by 2.4% in the 1st quarter. US Bancorp DE now owns 23,219 shares of the transportation company’s stock worth $796,000 after buying an additional 546 shares during the period. Finally, Suntrust Banks Inc. raised its position in shares of SkyWest by 0.7% in the 1st quarter. Suntrust Banks Inc. now owns 8,133 shares of the transportation company’s stock worth $278,000 after buying an additional 55 shares during the period. 89.39% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on SKYW. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Wednesday. ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a report on Monday, September 18th. BidaskClub downgraded SkyWest from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Finally, Cowen and Company increased their price target on SkyWest from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.17.
Shares of SkyWest, Inc. (NASDAQ SKYW) opened at 42.35 on Friday. The company has a 50-day moving average price of $36.23 and a 200 day moving average price of $35.67. The firm’s market capitalization is $2.20 billion. SkyWest, Inc. has a one year low of $25.04 and a one year high of $42.75.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, beating 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 business had revenue of $809.76 million during the quarter, compared to analyst estimates of $790.14 million. During the same quarter in the previous year, the business earned $0.77 EPS. SkyWest’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts expect that SkyWest, Inc. will post $3.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 28th. SkyWest’s payout ratio is presently -11.31%.
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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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