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

SkyWest (NASDAQ:SKYW) announced its quarterly earnings results on Thursday. The transportation company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $826.56 million. During the same period last year, the business posted $0.35 EPS. The business’s revenue was up 19.5% compared to the same quarter last year.

SkyWest Stock Performance

SkyWest stock traded down $7.74 during trading hours on Friday, hitting $76.74. 947,390 shares of the stock traded hands, compared to its average volume of 438,021. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.81 and a quick ratio of 0.72. The firm’s 50 day moving average price is $79.90 and its 200-day moving average price is $69.89. The stock has a market capitalization of $3.09 billion, a price-to-earnings 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on SKYW shares. TD Cowen boosted their target price on SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Evercore ISI boosted their target price on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.67.

Insider Buying and Selling at SkyWest

In other SkyWest news, insider Wade J. Steel sold 15,000 shares of the business’s 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 sale, the insider now owns 116,733 shares in the company, valued at approximately $9,000,114.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Eric Woodward sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $80.56, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wade J. Steel sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $77.10, for a total value of $1,156,500.00. Following the completion of 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. In the last 90 days, insiders have sold 94,290 shares of company stock worth $7,282,611. 2.00% of the stock is currently owned by 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.