SkyWest, Inc. (NASDAQ:SKYW) Director Jerry C. Atkin sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $60.07, for a total transaction of $600,700.00. Following the completion of the sale, the director now owns 467,109 shares in the company, valued at approximately $28,059,237.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of SkyWest stock traded up $1.94 on Friday, reaching $62.22. 131,939 shares of the company traded hands, compared to its average volume of 229,173. SkyWest, Inc. has a 52 week low of $42.38 and a 52 week high of $63.40. The company has a 50 day moving average of $57.57 and a 200 day moving average of $57.85. The firm has a market capitalization of $3.04 billion, a PE ratio of 11.74 and a beta of 1.72. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.84 and a quick ratio of 0.72.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.11. The company had revenue of $725.34 million during the quarter, compared to the consensus estimate of $736.71 million. SkyWest had a net margin of 10.53% and a return on equity of 15.47%. SkyWest’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the firm earned $1.43 EPS. As a group, analysts anticipate that SkyWest, Inc. will post 6.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, September 27th. SkyWest’s dividend payout ratio is presently 9.06%.
A number of hedge funds and other institutional investors have recently bought and sold shares of SKYW. AdvisorNet Financial Inc lifted its stake in SkyWest by 32.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,852 shares of the transportation company’s stock worth $112,000 after purchasing an additional 457 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its stake in SkyWest by 90.6% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,630 shares of the transportation company’s stock worth $160,000 after purchasing an additional 1,250 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in SkyWest in the 2nd quarter worth approximately $176,000. 9258 Wealth Management LLC purchased a new stake in SkyWest in the 2nd quarter worth approximately $204,000. Finally, Magnus Financial Group LLC purchased a new stake in SkyWest in the 1st quarter worth approximately $213,000. Institutional investors and hedge funds own 90.34% of the company’s stock.
SKYW has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of SkyWest from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Evercore ISI reaffirmed a “buy” rating and issued a $72.00 price objective on shares of SkyWest in a research report on Thursday, August 8th. Finally, BidaskClub downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.63.
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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