Brokerages Anticipate SkyWest, Inc. (NASDAQ:SKYW) Will Post Quarterly Sales of $667.25 Million

Brokerages expect SkyWest, Inc. (NASDAQ:SKYWGet Rating) to post $667.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for SkyWest’s earnings, with the highest sales estimate coming in at $696.00 million and the lowest estimate coming in at $638.50 million. SkyWest posted sales of $534.56 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.8%. The company is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that SkyWest will report full year sales of $2.50 billion for the current financial year, with estimates ranging from $2.42 billion to $2.59 billion. For the next financial year, analysts expect that the business will report sales of $2.81 billion, with estimates ranging from $2.69 billion to $2.94 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow SkyWest.

SkyWest (NASDAQ:SKYWGet Rating) last released its earnings results on Thursday, February 3rd. The transportation company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.17. SkyWest had a net margin of 4.12% and a return on equity of 7.85%. The firm had revenue of $777.16 million during the quarter, compared to analyst estimates of $720.09 million.

Several research firms have recently commented on SKYW. StockNews.com began coverage on shares of SkyWest in a research report on Thursday, March 31st. They set a “hold” rating for the company. Raymond James lowered their price target on shares of SkyWest from $48.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, March 21st. Cowen lowered shares of SkyWest from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $50.00 to $42.00 in a research report on Wednesday, December 15th. The Goldman Sachs Group lowered their price target on shares of SkyWest from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, April 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of SkyWest from a “buy” rating to a “hold” rating and lowered their price target for the stock from $65.00 to $39.00 in a research report on Friday, February 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.40.

In related news, Director Jerry C. Atkin acquired 55,000 shares of SkyWest stock in a transaction that occurred on Friday, March 11th. The stock was acquired at an average price of $25.33 per share, with a total value of $1,393,150.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Mercantile Trust Co. lifted its holdings in SkyWest by 7.2% in the 3rd quarter. First Mercantile Trust Co. now owns 4,439 shares of the transportation company’s stock valued at $219,000 after acquiring an additional 300 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in SkyWest by 85.1% in the 3rd quarter. Advisor Group Holdings Inc. now owns 770 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 354 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in SkyWest by 6.2% in the 3rd quarter. CIBC Asset Management Inc now owns 6,215 shares of the transportation company’s stock valued at $307,000 after acquiring an additional 362 shares during the last quarter. Strs Ohio lifted its holdings in SkyWest by 7.4% in the 4th quarter. Strs Ohio now owns 7,300 shares of the transportation company’s stock valued at $286,000 after acquiring an additional 500 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in SkyWest by 73.0% in the 3rd quarter. Penserra Capital Management LLC now owns 1,275 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 538 shares during the last quarter. 88.32% of the stock is owned by institutional investors.

SKYW stock opened at $28.17 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.89 and a quick ratio of 0.81. SkyWest has a 1-year low of $22.78 and a 1-year high of $54.60. The firm has a fifty day moving average price of $28.92 and a two-hundred day moving average price of $38.54. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 12.75 and a beta of 1.88.

SkyWest Company Profile (Get Rating)

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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