SkyWest (NASDAQ:SKYW) Downgraded by BidaskClub

BidaskClub lowered shares of SkyWest (NASDAQ:SKYW) from a hold rating to a sell rating in a research note released on Tuesday morning, BidAskClub reports.

SKYW has been the topic of several other reports. ValuEngine lowered shares of SkyWest from a sell rating to a strong sell rating in a report on Wednesday, October 2nd. Evercore ISI restated a buy rating and issued a $72.00 price objective on shares of SkyWest in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. SkyWest has an average rating of Buy and a consensus price target of $67.63.

SkyWest stock opened at $55.68 on Tuesday. The firm has a 50 day simple moving average of $57.24 and a 200-day simple moving average of $58.61. SkyWest has a 1-year low of $42.38 and a 1-year high of $63.40. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.84 and a quick ratio of 0.72. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 10.51 and a beta of 1.67.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.11. SkyWest had a net margin of 10.53% and a return on equity of 15.47%. The business had revenue of $725.34 million during the quarter, compared to analysts’ expectations of $736.71 million. During the same quarter in the prior year, the company posted $1.43 EPS. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. Equities analysts expect that SkyWest will post 6.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 30th were issued a $0.12 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. SkyWest’s dividend payout ratio is currently 9.06%.

In other news, COO Michael B. Thompson sold 5,523 shares of the company’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 document filed with the SEC, which is available through this link. Also, insider Wade J. Steel sold 17,030 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 90 days, insiders sold 32,553 shares of company stock worth $1,955,270. Company insiders own 3.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its holdings in SkyWest by 115.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 45,301 shares of the transportation company’s stock worth $2,599,000 after buying an additional 24,316 shares in the last quarter. Atria Investments LLC acquired a new stake in SkyWest during the 2nd quarter worth approximately $229,000. Natixis acquired a new stake in SkyWest during the 2nd quarter worth approximately $1,015,000. Royal Bank of Canada lifted its holdings in SkyWest by 8.0% during the 2nd quarter. Royal Bank of Canada now owns 34,514 shares of the transportation company’s stock worth $2,094,000 after buying an additional 2,566 shares in the last quarter. Finally, Eaton Vance Management lifted its holdings in SkyWest by 30.8% during the 2nd quarter. Eaton Vance Management now owns 144,045 shares of the transportation company’s stock worth $8,739,000 after buying an additional 33,905 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

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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Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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