Imperial Capital Comments on SkyWest, Inc.’s FY2017 Earnings (SKYW)
SkyWest, Inc. (NASDAQ:SKYW) – Equities research analysts at Imperial Capital upped their FY2017 earnings per share estimates for shares of SkyWest in a research report issued on Tuesday. Imperial Capital analyst M. Derchin now anticipates that the transportation company will post earnings per share of $3.32 for the year, up from their prior estimate of $3.25. Imperial Capital has a “In-Line” rating and a $47.00 price objective on the stock. Imperial Capital also issued estimates for SkyWest’s Q4 2017 earnings at $0.70 EPS, Q1 2018 earnings at $0.78 EPS, Q2 2018 earnings at $1.06 EPS and FY2018 earnings at $3.85 EPS.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ 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 quarter in the prior year, the company earned $0.90 EPS. The firm’s revenue was up 4.0% on a year-over-year basis.
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Several other brokerages have also recently weighed in on SKYW. Deutsche Bank AG boosted their price target on shares of SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research cut shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. BidaskClub cut shares of SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. ValuEngine cut shares of SkyWest from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 4th. Finally, Cowen and Company restated an “outperform” rating and issued a $44.00 price target (up previously from $40.00) on shares of SkyWest in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.00.
Shares of SkyWest (SKYW) opened at 47.10 on Wednesday. The stock’s market cap is $2.44 billion. SkyWest has a 52 week low of $28.80 and a 52 week high of $48.45. The stock has a 50 day moving average of $44.26 and a 200-day moving average of $38.03.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 29th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, September 28th. SkyWest’s payout ratio is -12.26%.
A number of hedge funds and other institutional investors have recently bought and sold shares of SKYW. BlackRock Inc. boosted its stake 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 buying an additional 6,164,323 shares during the period. Victory Capital Management Inc. boosted its stake in SkyWest by 87.0% during the third quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock worth $62,340,000 after buying an additional 660,859 shares during the period. FMR LLC boosted its stake 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 buying an additional 642,100 shares during the period. Harbour Capital Advisors LLC boosted its stake 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 buying an additional 332,407 shares during the period. Finally, SG Capital Management LLC purchased a new position in SkyWest during the second quarter worth $9,765,000. 89.43% of the stock is 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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