SkyWest (NASDAQ:SKYW) Announces Quarterly Earnings Results, Beats Expectations By $0.36 EPS

SkyWest (NASDAQ:SKYWGet Rating) released its quarterly earnings results on Thursday. The transportation company reported $0.35 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.36, MarketWatch Earnings reports. SkyWest had a net margin of 4.12% and a return on equity of 7.85%. The firm had revenue of $735.15 million during the quarter, compared to the consensus estimate of $699.63 million. During the same quarter in the prior year, the firm earned $0.71 EPS. SkyWest’s revenue for the quarter was up 37.5% on a year-over-year basis.

Shares of NASDAQ SKYW opened at $29.15 on Friday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 15.76 and a beta of 1.88. SkyWest has a 52 week low of $22.78 and a 52 week high of $53.50. The company’s 50-day moving average price is $28.18 and its 200 day moving average price is $36.65. The company has a current ratio of 0.89, a quick ratio of 0.81 and a debt-to-equity ratio of 1.20.

SKYW has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of SkyWest from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a research report on Tuesday, March 15th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of SkyWest from $39.00 to $30.00 in a research report on Friday. StockNews.com initiated coverage on shares of SkyWest in a research report on Thursday, March 31st. They set a “hold” rating for the company. Raymond James downgraded shares of SkyWest from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price target on shares of SkyWest from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.60.

In other SkyWest news, Director Jerry C. Atkin acquired 55,000 shares of the stock in a transaction that occurred on Friday, March 11th. The shares were purchased at an average cost of $25.33 per share, with a total value of $1,393,150.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of SkyWest during the 4th quarter worth about $5,094,000. BlackRock Inc. lifted its holdings in shares of SkyWest by 2.5% during the 4th quarter. BlackRock Inc. now owns 7,987,322 shares of the transportation company’s stock worth $313,900,000 after acquiring an additional 196,379 shares during the period. Virtu Financial LLC purchased a new position in shares of SkyWest during the 4th quarter worth about $613,000. Deutsche Bank AG lifted its holdings in shares of SkyWest by 47.7% during the 4th quarter. Deutsche Bank AG now owns 242,168 shares of the transportation company’s stock worth $9,518,000 after acquiring an additional 78,219 shares during the period. Finally, Penserra Capital Management LLC lifted its holdings in shares of SkyWest by 68.6% during the 4th quarter. Penserra Capital Management LLC now owns 2,150 shares of the transportation company’s stock worth $84,000 after acquiring an additional 875 shares during the period. 88.32% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Stories

Earnings History for SkyWest (NASDAQ:SKYW)

Receive News & Ratings for SkyWest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWest and related companies with MarketBeat.com's FREE daily email newsletter.