Brokers Set Expectations for SkyWest, Inc.’s Q3 2018 Earnings (SKYW)
SkyWest, Inc. (NASDAQ:SKYW) – Imperial Capital issued their Q3 2018 EPS estimates for shares of SkyWest in a report released on Tuesday. Imperial Capital analyst M. Derchin forecasts that the transportation company will earn $1.24 per share for the quarter. Imperial Capital currently has a “In-Line” rating and a $47.00 price objective on the stock. Imperial Capital also issued estimates for SkyWest’s Q4 2018 earnings at $0.76 EPS and FY2019 earnings at $4.70 EPS.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 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 for the quarter, compared to the consensus estimate of $817.43 million. During the same period in the prior year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year.
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of SkyWest from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Cowen and Company restated an “outperform” rating and set a $44.00 price target (up previously from $40.00) on shares of SkyWest in a research report on Monday, August 7th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 29th. Finally, Zacks Investment Research lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. SkyWest presently has an average rating of “Buy” and an average price target of $47.00.
A number of large investors have recently added to or reduced their stakes in SKYW. Oppenheimer Asset Management Inc. boosted its position in SkyWest by 108.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,488 shares during the period. Riverhead Capital Management LLC boosted its position in shares of SkyWest by 81.0% in the second quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock valued at $146,000 after acquiring an additional 1,862 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of SkyWest by 10.4% in the second quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock valued at $156,000 after acquiring an additional 419 shares during the period. Flinton Capital Management LLC boosted its position in shares of SkyWest by 73.1% in the second quarter. Flinton Capital Management LLC now owns 5,474 shares of the transportation company’s stock valued at $192,000 after acquiring an additional 2,312 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in shares of SkyWest in the second quarter valued at approximately $240,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 29th were issued a $0.08 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.68%. SkyWest’s dividend payout ratio is currently -12.26%.
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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