Brokerages Anticipate SkyWest, Inc. (NASDAQ:SKYW) Will Post Quarterly Sales of $685.60 Million

Analysts expect SkyWest, Inc. (NASDAQ:SKYW) to announce sales of $685.60 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for SkyWest’s earnings, with the highest sales estimate coming in at $698.00 million and the lowest estimate coming in at $673.19 million. SkyWest posted sales of $457.49 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 49.9%. The company is expected to announce its next earnings results after the market closes on Thursday, October 28th.

According to Zacks, analysts expect that SkyWest will report full year sales of $2.62 billion for the current fiscal year, with estimates ranging from $2.61 billion to $2.63 billion. For the next fiscal year, analysts expect that the company will post sales of $3.03 billion, with estimates ranging from $2.92 billion to $3.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover SkyWest.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, July 29th. The transportation company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.94. The business had revenue of $656.99 million during the quarter, compared to analyst estimates of $581.50 million. SkyWest had a net margin of 3.80% and a return on equity of 3.89%.

A number of analysts recently weighed in on SKYW shares. Raymond James raised their price target on shares of SkyWest from $66.00 to $67.00 and gave the company a “strong-buy” rating in a report on Friday, July 30th. Zacks Investment Research cut shares of SkyWest from a “buy” rating to a “hold” rating and set a $54.00 price objective on the stock. in a research note on Tuesday, September 28th.

Shares of SkyWest stock opened at $49.75 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.02 and a quick ratio of 0.93. The firm has a market cap of $2.51 billion, a P/E ratio of 29.97 and a beta of 2.05. The firm has a 50 day simple moving average of $46.21 and a 200 day simple moving average of $46.93. SkyWest has a fifty-two week low of $27.44 and a fifty-two week high of $61.15.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new stake in SkyWest in the 1st quarter valued at $28,000. Penserra Capital Management LLC bought a new stake in SkyWest in the 2nd quarter valued at $31,000. Point72 Hong Kong Ltd bought a new stake in SkyWest in the 1st quarter valued at $35,000. FORA Capital LLC bought a new stake in SkyWest in the 1st quarter valued at $66,000. Finally, Quantbot Technologies LP bought a new stake in SkyWest in the 1st quarter valued at $151,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

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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