SkyWest, Inc. (SKYW) Receives Average Recommendation of “Buy” from Analysts
SkyWest, Inc. (NASDAQ:SKYW) has received an average recommendation of “Buy” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $41.67.
SKYW has been the subject of a number of research reports. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday, May 2nd. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Raymond James Financial, Inc. upgraded shares of SkyWest from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, April 13th. Deutsche Bank AG lifted their target price on shares of SkyWest from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, TheStreet upgraded shares of SkyWest from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd.
Institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its position in SkyWest by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 5,720 shares of the transportation company’s stock worth $195,000 after buying an additional 140 shares in the last quarter. United Services Automobile Association purchased a new position in SkyWest during the first quarter worth $421,000. Creative Planning purchased a new position in SkyWest during the first quarter worth $1,281,000. Bowling Portfolio Management LLC raised its position in SkyWest by 8.2% in the first quarter. Bowling Portfolio Management LLC now owns 22,504 shares of the transportation company’s stock worth $771,000 after buying an additional 1,704 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its position in SkyWest by 3,410.0% in the second quarter. Harbour Capital Advisors LLC now owns 342,155 shares of the transportation company’s stock worth $9,748,000 after buying an additional 332,407 shares in the last quarter. 90.84% of the stock is owned by institutional investors and hedge funds.
SkyWest (SKYW) traded down 4.05% on Friday, hitting $36.70. 457,239 shares of the company traded hands. SkyWest has a 12 month low of $25.04 and a 12 month high of $39.85. The stock’s 50-day moving average is $36.62 and its 200 day moving average is $35.58. The stock’s market cap is $1.90 billion.
SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $809.76 million during the quarter, compared to analysts’ expectations of $790.14 million. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 earnings per share. Equities research analysts expect that SkyWest will post $3.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 29th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, September 28th. SkyWest’s dividend payout ratio is presently -11.31%.
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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