Zacks: Analysts Anticipate SkyWest, Inc. (SKYW) Will Post Earnings of $0.98 Per Share
Equities research analysts expect SkyWest, Inc. (NASDAQ:SKYW) to post $0.98 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for SkyWest’s earnings, with the lowest EPS estimate coming in at $0.95 and the highest estimate coming in at $1.02. SkyWest reported earnings per share of $0.90 during the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The business is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that SkyWest will report full year earnings of $3.24 per share for the current year, with EPS estimates ranging from $3.15 to $3.35. For the next year, analysts anticipate that the company will report earnings of $3.69 per share, with EPS estimates ranging from $3.20 to $4.05. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow SkyWest.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. The firm had revenue of $809.76 million for 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 business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share.
Several research firms have weighed in on SKYW. Deutsche Bank AG lifted their target price on SkyWest from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, May 2nd. Cowen and Company boosted their price objective on SkyWest from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. BidaskClub downgraded SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $41.67.
Several institutional investors have recently made changes to their positions in SKYW. Suntrust Banks Inc. increased its position in shares of SkyWest by 0.7% in the first quarter. Suntrust Banks Inc. now owns 8,133 shares of the transportation company’s stock worth $278,000 after buying an additional 55 shares in the last quarter. Flinton Capital Management LLC increased its position in shares of SkyWest by 3.3% in the first quarter. Flinton Capital Management LLC now owns 3,162 shares of the transportation company’s stock worth $108,000 after buying an additional 102 shares during the period. Capital One National Association increased its position in shares of SkyWest by 1.2% in the first quarter. Capital One National Association now owns 9,645 shares of the transportation company’s stock worth $330,000 after buying an additional 110 shares during the period. Amalgamated Bank increased its position in shares of SkyWest by 1.6% in the second quarter. Amalgamated Bank now owns 6,926 shares of the transportation company’s stock worth $243,000 after buying an additional 110 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of SkyWest by 1.5% in the second quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock worth $325,000 after buying an additional 133 shares during the period. 90.32% of the stock is owned by institutional investors and hedge funds.
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SkyWest (NASDAQ:SKYW) opened at 34.50 on Monday. The stock has a 50 day moving average of $36.64 and a 200-day moving average of $35.55. The company’s market capitalization is $1.79 billion. SkyWest has a 12-month low of $25.04 and a 12-month high of $39.85.
The business 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend 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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