SkyWest, Inc. (SKYW) Expected to Announce Earnings of $1.41 Per Share

Equities analysts expect SkyWest, Inc. (NASDAQ:SKYW) to announce earnings of $1.41 per share for the current quarter, Zacks reports. Three analysts have made estimates for SkyWest’s earnings, with the highest EPS estimate coming in at $1.45 and the lowest estimate coming in at $1.35. SkyWest reported earnings per share of $1.01 in the same quarter last year, which would suggest a positive year-over-year growth rate of 39.6%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 30th.

On average, analysts expect that SkyWest will report full-year earnings of $4.91 per share for the current year, with EPS estimates ranging from $4.85 to $4.98. For the next year, analysts anticipate that the firm will post earnings of $5.38 per share, with EPS estimates ranging from $4.90 to $5.70. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow SkyWest.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, July 26th. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.20. SkyWest had a net margin of 14.73% and a return on equity of 13.20%. The business had revenue of $805.50 million during the quarter, compared to the consensus estimate of $795.19 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year.

Several equities research analysts have recently weighed in on SKYW shares. ValuEngine upgraded shares of SkyWest from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. Zacks Investment Research upgraded shares of SkyWest from a “sell” rating to a “hold” rating and set a $69.00 target price for the company in a research note on Monday, July 30th. BidaskClub upgraded shares of SkyWest from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. 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 note on Monday, July 30th. Finally, Cowen increased their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $63.60.

In related news, insider Wade J. Steel sold 17,731 shares of the stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $59.89, for a total transaction of $1,061,909.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Terry Vais sold 1,600 shares of the stock in a transaction dated 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. Insiders have sold 107,455 shares of company stock valued at $6,468,863 over the last three months. 3.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in SkyWest by 3.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 486,815 shares of the transportation company’s stock worth $25,266,000 after purchasing an additional 16,932 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in SkyWest in the second quarter valued at about $1,749,000. OppenheimerFunds Inc. increased its holdings in SkyWest by 11.0% in the second quarter. OppenheimerFunds Inc. now owns 36,544 shares of the transportation company’s stock valued at $1,897,000 after buying an additional 3,612 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in SkyWest by 11.8% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 331,300 shares of the transportation company’s stock valued at $17,194,000 after buying an additional 35,000 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in SkyWest by 7.2% in the second quarter. BlackRock Inc. now owns 6,979,037 shares of the transportation company’s stock valued at $362,211,000 after buying an additional 470,480 shares in the last quarter. 89.52% of the stock is owned by hedge funds and other institutional investors.

Shares of SKYW opened at $50.34 on Tuesday. SkyWest has a fifty-two week low of $42.85 and a fifty-two week high of $65.80. The stock has a market cap of $2.74 billion, a PE ratio of 12.28 and a beta of 1.63. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.11 and a quick ratio of 0.97.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Investors of record on Friday, September 28th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 0.79%. SkyWest’s dividend payout ratio is currently 11.66%.

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 and Estimates for SkyWest (NASDAQ:SKYW)

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