California Public Employees Retirement System reduced its position in SkyWest, Inc. (NASDAQ:SKYW) by 9.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 195,741 shares of the transportation company’s stock after selling 21,100 shares during the period. California Public Employees Retirement System owned about 0.38% of SkyWest worth $6,704,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in SKYW. Comerica Bank boosted its position in SkyWest by 5.8% in the fourth quarter. Comerica Bank now owns 54,964 shares of the transportation company’s stock valued at $2,034,000 after buying an additional 3,021 shares in the last quarter. State Street Corp boosted its position in SkyWest by 9.3% in the fourth quarter. State Street Corp now owns 1,282,438 shares of the transportation company’s stock valued at $46,749,000 after buying an additional 109,346 shares in the last quarter. Pacad Investment Ltd. boosted its position in SkyWest by 1,100.0% in the fourth quarter. Pacad Investment Ltd. now owns 4,800 shares of the transportation company’s stock valued at $175,000 after buying an additional 4,400 shares in the last quarter. Public Sector Pension Investment Board raised its stake in SkyWest by 2.2% in the fourth quarter. Public Sector Pension Investment Board now owns 36,857 shares of the transportation company’s stock valued at $1,343,000 after buying an additional 800 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in SkyWest during the fourth quarter valued at approximately $2,406,000. Institutional investors own 90.12% of the company’s stock.
SkyWest, Inc. (SKYW) traded up 5.32% on Friday, hitting $37.60. The stock had a trading volume of 612,492 shares. SkyWest, Inc. has a 12 month low of $25.04 and a 12 month high of $39.85. The company has a 50-day moving average of $36.67 and a 200 day moving average of $35.56. The company’s market cap is $1.95 billion.
SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. SkyWest had a positive return on equity of 11.05% and a negative net margin of 4.59%. The business had revenue of $809.76 million for the quarter, compared to analyst estimates of $790.14 million. During the same period in the previous year, the company earned $0.77 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts predict that SkyWest, Inc. will post $3.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 30th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Wednesday, June 28th. SkyWest’s payout ratio is -11.31%.
Several equities research analysts have recently commented on the stock. Raymond James Financial, Inc. raised shares of SkyWest from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, April 13th. UBS AG raised shares of SkyWest from an “outperform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Thursday, April 13th. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, May 2nd. Deutsche Bank AG increased their target price on shares of SkyWest from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, TheStreet raised shares of SkyWest from a “c+” rating to a “b-” rating in a report on Monday, May 22nd. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. SkyWest currently has a consensus rating of “Buy” and an average target price of $41.00.
SkyWest Company Profile
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
Receive News & Ratings for SkyWest Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWest Inc. and related companies with MarketBeat.com's FREE daily email newsletter.