SkyWest (NASDAQ:SKYW) Announces Quarterly Earnings Results

SkyWest (NASDAQ:SKYW) released its quarterly earnings data on Thursday. The transportation company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.53 by $0.01, FiscalAI reports. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion.

SkyWest Trading Up 0.6%

Shares of SkyWest stock traded up $0.54 during trading on Thursday, hitting $96.24. The stock had a trading volume of 476,931 shares, compared to its average volume of 373,865. The firm’s fifty day simple moving average is $91.33 and its 200-day simple moving average is $94.42. The stock has a market cap of $3.82 billion, a PE ratio of 9.23, a PEG ratio of 1.38 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.51. SkyWest has a 12 month low of $77.89 and a 12 month high of $123.94.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SKYW shares. The Goldman Sachs Group cut shares of SkyWest from a “buy” rating to a “neutral” rating and decreased their target price for the company from $126.00 to $115.00 in a research report on Thursday, July 2nd. Citigroup boosted their price objective on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. TD Cowen raised their price objective on SkyWest from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings upgraded SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Institutional Trading of SkyWest

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC lifted its stake in SkyWest by 273.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after purchasing an additional 197 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of SkyWest during the third quarter valued at approximately $62,000. EverSource Wealth Advisors LLC grew its stake in shares of SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after buying an additional 339 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of SkyWest by 15.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,037 shares of the transportation company’s stock worth $105,000 after buying an additional 140 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in shares of SkyWest in the fourth quarter worth approximately $130,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.