Imperial Capital Boosts SkyWest, Inc. (SKYW) Price Target to $47.00
SkyWest, Inc. (NASDAQ:SKYW) had its price target raised by Imperial Capital from $38.00 to $47.00 in a research report report published on Tuesday morning, MarketBeat.com reports. Imperial Capital currently has an in-line rating on the transportation company’s stock. Imperial Capital also issued estimates for SkyWest’s Q4 2017 earnings at $0.70 EPS, FY2017 earnings at $3.32 EPS, Q1 2018 earnings at $0.78 EPS, Q2 2018 earnings at $1.06 EPS, Q3 2018 earnings at $1.24 EPS, Q4 2018 earnings at $0.76 EPS, FY2018 earnings at $3.85 EPS and FY2019 earnings at $4.70 EPS.
SKYW has been the subject of several other reports. Deutsche Bank AG raised their target price on shares of SkyWest from $47.00 to $55.00 and gave the stock a buy rating in a report on Thursday, October 26th. BidaskClub lowered shares of SkyWest from a sell rating to a strong sell rating in a research report on Tuesday, August 22nd. ValuEngine raised shares of SkyWest from a buy rating to a strong-buy rating in a research report on Tuesday, August 29th. Zacks Investment Research lowered shares of SkyWest from a buy rating to a hold rating in a research report on Wednesday, October 11th. Finally, Cowen and Company increased their price target on shares of SkyWest from $44.00 to $52.00 and gave the stock an outperform rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $47.00.
Shares of SkyWest (NASDAQ:SKYW) traded down $1.30 on Tuesday, hitting $45.75. 340,898 shares of the company’s stock traded hands, compared to its average volume of 361,135. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.24 and a quick ratio of 1.06. The company has a market capitalization of $2,418.76, a price-to-earnings ratio of 14.84 and a beta of 1.74.
SkyWest (NASDAQ:SKYW) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.98 by $0.03. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The company had revenue of $831.93 million during the quarter, compared to analysts’ expectations of $817.43 million. During the same period last year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. equities research analysts forecast that SkyWest will post 3.32 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 29th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.70%. The ex-dividend date was Thursday, September 28th. SkyWest’s payout ratio is presently -12.26%.
In other news, CEO Russell A. Childs sold 1,766 shares of SkyWest stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total value of $83,390.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wade J. Steel sold 4,500 shares of SkyWest stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $47.00, for a total transaction of $211,500.00. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in SKYW. UBS Asset Management Americas Inc. raised its position in shares of SkyWest by 23.1% in the first quarter. UBS Asset Management Americas Inc. now owns 8,265 shares of the transportation company’s stock valued at $283,000 after purchasing an additional 1,550 shares during the period. United Services Automobile Association bought a new position in shares of SkyWest in the first quarter valued at approximately $421,000. FMR LLC raised its position in shares of SkyWest by 170.4% in the first quarter. FMR LLC now owns 1,018,900 shares of the transportation company’s stock valued at $34,897,000 after purchasing an additional 642,100 shares during the period. Legal & General Group Plc raised its position in shares of SkyWest by 0.3% in the first quarter. Legal & General Group Plc now owns 85,565 shares of the transportation company’s stock valued at $2,930,000 after purchasing an additional 218 shares during the period. Finally, Thrivent Financial For Lutherans grew its stake in shares of SkyWest by 4.2% in the first quarter. Thrivent Financial For Lutherans now owns 29,030 shares of the transportation company’s stock worth $994,000 after acquiring an additional 1,170 shares during the last quarter. 89.43% of the stock is currently owned by institutional investors.
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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