ValuEngine upgraded shares of SkyWest, Inc. (NASDAQ:SKYW) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning.
Several other research firms also recently weighed in on SKYW. Cowen and Company lifted their price objective on SkyWest from $40.00 to $44.00 and gave the company an outperform rating in a report on Thursday, August 10th. BidaskClub downgraded SkyWest from a hold rating to a sell rating in a report on Monday, July 31st. Finally, TheStreet upgraded SkyWest from a c+ rating to a b- rating in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. SkyWest has a consensus rating of Buy and an average price target of $42.17.
Shares of SkyWest (SKYW) opened at 42.10 on Monday. The stock has a 50 day moving average of $36.23 and a 200-day moving average of $35.67. The stock’s market capitalization is $2.18 billion. SkyWest has a 52-week low of $25.04 and a 52-week high of $42.69.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm had revenue of $809.76 million during the quarter, compared to the consensus estimate of $790.14 million. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. Analysts predict that SkyWest will post $3.25 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 29th will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.76%. SkyWest’s dividend payout ratio (DPR) is presently -11.31%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Phocas Financial Corp. grew its stake in SkyWest by 4.7% in the second quarter. Phocas Financial Corp. now owns 467,318 shares of the transportation company’s stock valued at $16,403,000 after purchasing an additional 20,857 shares during the last quarter. U S Global Investors Inc. grew its stake in SkyWest by 71.7% in the second quarter. U S Global Investors Inc. now owns 101,691 shares of the transportation company’s stock valued at $3,712,000 after purchasing an additional 42,461 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in SkyWest in the second quarter valued at about $500,000. Piedmont Investment Advisors LLC grew its stake in SkyWest by 48.7% in the second quarter. Piedmont Investment Advisors LLC now owns 64,019 shares of the transportation company’s stock valued at $2,247,000 after purchasing an additional 20,961 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in SkyWest by 10.4% in the second quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 419 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.
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.
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