Wall Street analysts forecast that SkyWest, Inc. (NASDAQ:SKYW) will announce $1.43 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for SkyWest’s earnings, with the lowest EPS estimate coming in at $1.33 and the highest estimate coming in at $1.51. SkyWest posted earnings per share of $1.28 during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.7%. The company is expected to issue its next quarterly earnings report on Thursday, January 30th.
On average, analysts expect that SkyWest will report full year earnings of $6.22 per share for the current fiscal year, with EPS estimates ranging from $6.15 to $6.27. For the next fiscal year, analysts expect that the firm will post earnings of $6.61 per share, with EPS estimates ranging from $6.40 to $6.79. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for SkyWest.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.74 by $0.05. SkyWest had a net margin of 11.04% and a return on equity of 15.52%. The business had revenue of $760.30 million during the quarter, compared to the consensus estimate of $752.93 million. During the same quarter in the prior year, the firm earned $1.57 EPS. The business’s revenue was down 8.3% on a year-over-year basis.
SKYW has been the topic of a number of recent research reports. Evercore ISI reiterated a “buy” rating and set a $72.00 price objective on shares of SkyWest in a research note on Thursday, August 8th. ValuEngine downgraded shares of SkyWest from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Stephens initiated coverage on shares of SkyWest in a research note on Monday, November 4th. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, BidaskClub upgraded shares of SkyWest from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $67.29.
In other SkyWest news, COO Michael B. Thompson sold 5,523 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $60.19, for a total value of $332,429.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wade J. Steel sold 17,030 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $60.02, for a total transaction of $1,022,140.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,553 shares of company stock worth $1,955,270. Insiders own 3.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mason Street Advisors LLC boosted its stake in SkyWest by 1.1% in the third quarter. Mason Street Advisors LLC now owns 17,290 shares of the transportation company’s stock valued at $992,000 after acquiring an additional 188 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in SkyWest in the third quarter valued at approximately $39,000. SG Americas Securities LLC boosted its stake in SkyWest by 2,098.2% in the third quarter. SG Americas Securities LLC now owns 65,288 shares of the transportation company’s stock valued at $3,748,000 after acquiring an additional 62,318 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in SkyWest by 77.6% in the third quarter. Russell Investments Group Ltd. now owns 166,298 shares of the transportation company’s stock valued at $9,545,000 after acquiring an additional 72,676 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in SkyWest by 22.4% in the third quarter. California Public Employees Retirement System now owns 143,930 shares of the transportation company’s stock valued at $8,262,000 after acquiring an additional 26,377 shares in the last quarter. Institutional investors own 90.04% of the company’s stock.
Shares of SKYW traded down $0.04 during midday trading on Friday, hitting $63.15. 167,300 shares of the company traded hands, compared to its average volume of 225,054. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.72 and a current ratio of 0.84. The firm has a 50 day moving average of $57.91 and a 200-day moving average of $58.91. SkyWest has a 52 week low of $42.38 and a 52 week high of $63.69. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 11.92 and a beta of 1.58.
SkyWest Company Profile
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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