SkyWest (NASDAQ:SKYW) Announces Earnings Results, Beats Expectations By $0.11 EPS

SkyWest (NASDAQ:SKYW) issued its quarterly earnings data on Wednesday. The transportation company reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.11, Briefing.com reports. SkyWest had a net margin of 9.94% and a return on equity of 15.23%. The company had revenue of $725.34 million during the quarter, compared to the consensus estimate of $736.71 million. During the same quarter last year, the company earned $1.43 earnings per share. SkyWest’s revenue for the quarter was down 10.0% on a year-over-year basis.

Shares of SkyWest stock traded up $0.04 on Thursday, hitting $60.75. 241,600 shares of the company’s stock traded hands, compared to its average volume of 237,867. The firm has a market capitalization of $3.24 billion, a PE ratio of 11.46 and a beta of 1.64. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.50. The business’s 50-day simple moving average is $60.48. SkyWest has a 52-week low of $42.38 and a 52-week high of $65.80.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 28th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, June 27th. SkyWest’s dividend payout ratio (DPR) is 9.06%.

Several analysts have issued reports on SKYW shares. Stifel Nicolaus started coverage on shares of SkyWest in a research report on Monday, April 15th. They issued a “buy” rating and a $68.00 price objective for the company. Imperial Capital reaffirmed an “outperform” rating and issued a $74.00 price objective (up previously from $69.00) on shares of SkyWest in a research report on Tuesday, April 30th. Finally, BidaskClub downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. SkyWest has a consensus rating of “Buy” and an average target price of $66.75.

In other news, Director Jerry C. Atkin sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.38, for a total transaction of $613,800.00. Following the completion of the transaction, the director now directly owns 656,232 shares in the company, valued at approximately $40,279,520.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jerry C. Atkin sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $60.62, for a total value of $1,818,600.00. Following the transaction, the director now owns 656,232 shares of the company’s stock, valued at $39,780,783.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,634 shares of company stock valued at $7,752,183. Company insiders own 3.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SKYW. Wells Fargo & Company MN boosted its stake in shares of SkyWest by 20.6% during the 1st quarter. Wells Fargo & Company MN now owns 717,522 shares of the transportation company’s stock valued at $38,954,000 after buying an additional 122,775 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of SkyWest by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,263,381 shares of the transportation company’s stock valued at $189,594,000 after buying an additional 66,822 shares during the last quarter. Burney Co. boosted its stake in shares of SkyWest by 511.6% during the 1st quarter. Burney Co. now owns 78,860 shares of the transportation company’s stock valued at $4,281,000 after buying an additional 65,965 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of SkyWest by 10.6% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 554,801 shares of the transportation company’s stock valued at $30,120,000 after buying an additional 53,200 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of SkyWest by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 595,894 shares of the transportation company’s stock valued at $26,499,000 after buying an additional 50,969 shares during the last quarter. Institutional investors own 90.38% 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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Earnings History for SkyWest (NASDAQ:SKYW)

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