SkyWest, Inc. (SKYW) Receives Consensus Recommendation of “Buy” from Analysts
Shares of SkyWest, Inc. (NASDAQ:SKYW) have been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $66.75.
A number of research firms have weighed in on SKYW. BidaskClub upgraded shares of SkyWest from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. ValuEngine upgraded shares of SkyWest from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Imperial Capital reiterated an “outperform” rating and set a $74.00 price objective (up previously from $69.00) on shares of SkyWest in a research report on Tuesday, April 30th. Stifel Nicolaus began coverage on shares of SkyWest in a research report on Monday, April 15th. They set a “buy” rating and a $68.00 price objective on the stock. Finally, Cowen reiterated an “outperform” rating and set a $64.00 price objective (up previously from $61.00) on shares of SkyWest in a research report on Friday, February 1st.
In other news, Director Jerry C. Atkin sold 32,755 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $61.40, for a total value of $2,011,157.00. Following the transaction, the director now directly owns 698,987 shares in the company, valued at $42,917,801.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jerry C. Atkin sold 19,500 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $56.00, for a total transaction of $1,092,000.00. Following the completion of the transaction, the director now owns 696,232 shares in the company, valued at $38,988,992. The disclosure for this sale can be found here. Insiders have sold 112,255 shares of company stock worth $6,656,357 in the last quarter. Company insiders own 3.60% of the company’s stock.
Shares of NASDAQ:SKYW traded down $0.22 during trading on Thursday, reaching $59.23. The company had a trading volume of 190,700 shares, compared to its average volume of 247,274. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 11.18 and a beta of 1.76. SkyWest has a 12 month low of $42.38 and a 12 month high of $65.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.83 and a quick ratio of 0.71.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, April 25th. The transportation company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.18. The business had revenue of $723.69 million during the quarter, compared to analysts’ expectations of $693.32 million. SkyWest had a net margin of 9.94% and a return on equity of 15.23%. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. As a group, equities research analysts expect that SkyWest will post 6.09 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 28th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, June 27th. SkyWest’s dividend payout ratio (DPR) is 9.06%.
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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