SkyWest (NASDAQ:SKYW) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

SkyWest (NASDAQ:SKYW) posted its earnings results on Thursday. The transportation company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.73 by $0.09, Briefing.com reports. SkyWest had a return on equity of 5.45% and a net margin of 3.83%. The business had revenue of $867.10 million during the quarter, compared to analysts’ expectations of $826.56 million. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis.

SkyWest Trading Down 9.2 %

SKYW stock traded down $7.74 during trading on Friday, hitting $76.74. 947,390 shares of the company traded hands, compared to its average volume of 438,021. The firm has a market capitalization of $3.09 billion, a PE ratio of 27.70 and a beta of 1.96. SkyWest has a 1 year low of $36.91 and a 1 year high of $87.86. The company has a 50-day moving average of $79.90 and a 200-day moving average of $69.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.72 and a current ratio of 0.81.

Analyst Upgrades and Downgrades

SKYW has been the subject of a number of research reports. TD Cowen upped their price objective on SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Evercore ISI upped their price objective on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.67.

Insider Activity at SkyWest

In related news, insider Wade J. Steel sold 15,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $77.10, for a total transaction of $1,156,500.00. Following the completion of the sale, the insider now directly owns 116,733 shares in the company, valued at approximately $9,000,114.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other SkyWest news, CAO Eric Woodward sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $80.56, for a total transaction of $402,800.00. Following the completion of the transaction, the chief accounting officer now owns 48,426 shares of the company’s stock, valued at approximately $3,901,198.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wade J. Steel sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $77.10, for a total value of $1,156,500.00. Following the transaction, the insider now directly owns 116,733 shares of the company’s stock, valued at approximately $9,000,114.30. The disclosure for this sale can be found here. Insiders sold 94,290 shares of company stock worth $7,282,611 in the last ninety days. 2.00% of the stock is owned by company insiders.

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.