SkyWest, Inc. (NASDAQ:SKYW) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $68.17.
SKYW has been the subject of a number of recent research reports. Stephens initiated coverage on SkyWest in a research note on Monday, November 4th. They issued an “overweight” rating and a $75.00 target price for the company. ValuEngine lowered SkyWest from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 6th. Finally, BidaskClub raised SkyWest from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC bought a new position in shares of SkyWest in the 2nd quarter worth approximately $20,411,000. UBS Asset Management Americas Inc. lifted its holdings in shares of SkyWest by 1,281.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 226,803 shares of the transportation company’s stock valued at $13,760,000 after buying an additional 210,386 shares during the period. Morgan Stanley lifted its holdings in shares of SkyWest by 58.1% during the 2nd quarter. Morgan Stanley now owns 361,008 shares of the transportation company’s stock valued at $21,902,000 after buying an additional 132,691 shares during the period. Northern Trust Corp lifted its holdings in shares of SkyWest by 15.0% during the 2nd quarter. Northern Trust Corp now owns 814,355 shares of the transportation company’s stock valued at $49,407,000 after buying an additional 106,262 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in SkyWest by 11.3% during the second quarter. Wells Fargo & Company MN now owns 798,247 shares of the transportation company’s stock valued at $48,431,000 after acquiring an additional 80,725 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.
SkyWest stock traded down $0.96 during mid-day trading on Monday, reaching $62.58. 180,571 shares of the company’s stock were exchanged, compared to its average volume of 185,296. The business’s fifty day simple moving average is $61.86 and its 200 day simple moving average is $59.35. The firm has a market capitalization of $3.16 billion, a PE ratio of 11.81 and a beta of 1.56. SkyWest has a one year low of $42.38 and a one year high of $64.60. The company has a quick ratio of 0.73, a current ratio of 0.84 and a debt-to-equity ratio of 1.36.
SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.05. SkyWest had a return on equity of 15.52% and a net margin of 11.04%. The business had revenue of $760.30 million for the quarter, compared to analyst estimates of $752.93 million. During the same period last year, the company posted $1.57 earnings per share. SkyWest’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that SkyWest will post 6.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Monday, December 30th. SkyWest’s payout ratio is 9.06%.
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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