SkyWest (NASDAQ:SKYW) Announces Quarterly Earnings Results

SkyWest (NASDAQ:SKYW) posted its earnings results on Thursday. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04), FiscalAI reports. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $993.12 million. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.

SkyWest Trading Up 4.2%

SKYW stock traded up $4.05 on Thursday, hitting $101.53. 530,951 shares of the company were exchanged, compared to its average volume of 270,152. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.61. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 0.68 and a beta of 1.66. SkyWest has a twelve month low of $74.70 and a twelve month high of $135.57. The business’s fifty day moving average is $101.09 and its two-hundred day moving average is $105.01.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SKYW. Citigroup began coverage on SkyWest in a research report on Thursday, December 4th. They set a “neutral” rating and a $112.00 target price on the stock. Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a report on Monday. Finally, Wall Street Zen lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.83.

Insider Buying and Selling at SkyWest

In related news, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total value of $503,401.50. Following the transaction, the director owned 25,362 shares in the company, valued at approximately $2,702,067.48. This trade represents a 15.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On SkyWest

Several institutional investors have recently bought and sold shares of the business. Triumph Capital Management purchased a new stake in SkyWest during the 3rd quarter worth approximately $387,000. PharVision Advisers LLC grew its holdings in SkyWest by 26.8% during the 3rd quarter. PharVision Advisers LLC now owns 4,234 shares of the transportation company’s stock worth $426,000 after acquiring an additional 894 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of SkyWest during the third quarter worth about $248,000. Vise Technologies Inc. grew its stake in SkyWest by 21.4% in the third quarter. Vise Technologies Inc. now owns 2,620 shares of the transportation company’s stock worth $264,000 after purchasing an additional 461 shares in the last quarter. Finally, Merit Financial Group LLC raised its stake in SkyWest by 39.5% during the third quarter. Merit Financial Group LLC now owns 2,844 shares of the transportation company’s stock valued at $286,000 after buying an additional 806 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.