Wall Street analysts predict that SkyWest, Inc. (NASDAQ:SKYW) will report $826.39 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for SkyWest’s earnings, with the highest sales estimate coming in at $837.18 million and the lowest estimate coming in at $817.00 million. SkyWest posted sales of $831.94 million during the same quarter last year, which suggests a negative year over year growth rate of 0.7%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, October 30th.
According to Zacks, analysts expect that SkyWest will report full year sales of $3.21 billion for the current financial year, with estimates ranging from $3.19 billion to $3.23 billion. For the next year, analysts expect that the company will post sales of $3.31 billion, with estimates ranging from $3.20 billion to $3.42 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover SkyWest.
SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, July 26th. The transportation company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.20. SkyWest had a return on equity of 13.20% and a net margin of 14.73%. The company had revenue of $805.50 million during the quarter, compared to analyst estimates of $795.19 million. During the same period in the prior year, the company earned $0.95 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year.
SKYW has been the subject of a number of recent research reports. Zacks Investment Research upgraded SkyWest from a “sell” rating to a “hold” rating and set a $69.00 price objective for the company in a research report on Monday, July 30th. BidaskClub downgraded shares of SkyWest from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Cowen upped their price target on shares of SkyWest from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. ValuEngine downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, Imperial Capital increased their target price on shares of SkyWest from $60.00 to $63.00 and gave the stock an “inline” rating in a research report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. SkyWest presently has a consensus rating of “Hold” and an average target price of $63.60.
In other news, CEO Russell A. Childs sold 17,056 shares of SkyWest stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $59.90, for a total transaction of $1,021,654.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Terry Vais sold 1,600 shares of SkyWest stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $64.43, for a total transaction of $103,088.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,455 shares of company stock worth $6,468,863. Insiders own 3.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Mount Yale Investment Advisors LLC acquired a new position in shares of SkyWest during the 1st quarter worth about $105,000. First Quadrant L P CA bought a new stake in SkyWest in the 3rd quarter valued at about $150,000. Everence Capital Management Inc. bought a new stake in SkyWest in the 3rd quarter valued at about $209,000. Meeder Asset Management Inc. lifted its holdings in shares of SkyWest by 403.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,598 shares of the transportation company’s stock worth $187,000 after acquiring an additional 2,883 shares during the period. Finally, Natixis bought a new stake in shares of SkyWest during the 1st quarter worth approximately $207,000. Hedge funds and other institutional investors own 89.69% of the company’s stock.
SKYW traded down $0.60 during trading on Thursday, reaching $50.44. The stock had a trading volume of 305,700 shares, compared to its average volume of 235,159. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 14.71 and a beta of 1.64. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.11 and a quick ratio of 0.97. SkyWest has a 1-year low of $42.85 and a 1-year high of $65.80.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Friday, September 28th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Thursday, September 27th. SkyWest’s dividend payout ratio is currently 11.66%.
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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