Zacks Investment Research Downgrades SkyWest, Inc. (SKYW) to Hold
Zacks Investment Research cut shares of SkyWest, Inc. (NASDAQ:SKYW) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
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. “
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of SkyWest from a strong-buy rating to a buy rating in a report on Monday, September 4th. Cowen and Company raised their target price on shares of SkyWest from $44.00 to $52.00 and gave the stock an outperform rating in a report on Monday, October 2nd. Finally, BidaskClub cut shares of SkyWest from a hold rating to a sell rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. SkyWest has a consensus rating of Buy and a consensus price target of $44.17.
Shares of SkyWest (NASDAQ:SKYW) opened at 46.65 on Wednesday. SkyWest has a 1-year low of $28.05 and a 1-year high of $47.60. The stock has a 50 day moving average price of $41.16 and a 200 day moving average price of $36.89. The stock’s market capitalization is $2.42 billion.
SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $809.76 million during the quarter, compared to analysts’ expectations of $790.14 million. During the same quarter last year, the company posted $0.77 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that SkyWest will post $3.25 EPS for the current year.
The firm also recently declared 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. The ex-dividend date was Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.69%. SkyWest’s payout ratio is presently -11.31%.
A number of institutional investors and hedge funds have recently bought and sold shares of SKYW. BlackRock Inc. boosted its position in SkyWest by 49,259.4% during the first quarter. BlackRock Inc. now owns 6,176,837 shares of the transportation company’s stock worth $211,556,000 after acquiring an additional 6,164,323 shares during the last quarter. FMR LLC boosted its position in SkyWest by 170.4% during the first quarter. FMR LLC now owns 1,018,900 shares of the transportation company’s stock worth $34,897,000 after acquiring an additional 642,100 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in SkyWest by 3,410.0% during the second quarter. Harbour Capital Advisors LLC now owns 342,155 shares of the transportation company’s stock worth $9,748,000 after acquiring an additional 332,407 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in SkyWest by 574.6% during the first quarter. Kennedy Capital Management Inc. now owns 337,277 shares of the transportation company’s stock worth $11,552,000 after acquiring an additional 287,277 shares during the last quarter. Finally, SG Capital Management LLC acquired a new position in SkyWest during the second quarter worth about $9,765,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.
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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