SkyWest (NASDAQ:SKYW) Cut to Sell at BidaskClub

BidaskClub downgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a sell rating in a report issued on Wednesday morning, BidAskClub reports.

A number of other equities research analysts have also commented on the stock. Stephens assumed coverage on shares of SkyWest in a research note on Monday, November 4th. They issued an overweight rating and a $75.00 price objective on the stock. ValuEngine lowered shares of SkyWest from a sell rating to a strong sell rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $68.17.

Shares of NASDAQ SKYW opened at $66.20 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.73 and a current ratio of 0.84. SkyWest has a 52-week low of $47.62 and a 52-week high of $66.52. The firm has a 50 day moving average price of $63.96 and a two-hundred day moving average price of $60.25. The stock has a market cap of $3.31 billion, a P/E ratio of 10.76 and a beta of 1.56.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.05. SkyWest had a net margin of 11.04% and a return on equity of 15.52%. The firm had revenue of $760.30 million during the quarter, compared to analysts’ expectations of $752.93 million. During the same period in the prior year, the company posted $1.57 EPS. The company’s revenue was down 8.3% on a year-over-year basis. Analysts predict that SkyWest will post 6.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Monday, December 30th. SkyWest’s dividend payout ratio is currently 9.06%.

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its stake in shares of SkyWest by 4.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,684 shares of the transportation company’s stock valued at $690,000 after purchasing an additional 434 shares during the last quarter. 6 Meridian boosted its stake in SkyWest by 14.5% during the fourth quarter. 6 Meridian now owns 4,652 shares of the transportation company’s stock worth $301,000 after acquiring an additional 588 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in SkyWest by 12.9% during the fourth quarter. State of Alaska Department of Revenue now owns 51,147 shares of the transportation company’s stock worth $3,305,000 after acquiring an additional 5,846 shares in the last quarter. Man Group plc boosted its stake in SkyWest by 74.6% during the third quarter. Man Group plc now owns 97,623 shares of the transportation company’s stock worth $5,604,000 after acquiring an additional 41,708 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in SkyWest during the third quarter worth $4,493,000. 90.68% of the stock is currently owned by institutional investors.

About SkyWest

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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Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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