SkyWest (NASDAQ:SKYW) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

SkyWest (NASDAQ:SKYW) released its earnings results on Thursday. The transportation company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.21, Briefing.com reports. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The company had revenue of $804.00 million during the quarter, compared to the consensus estimate of $800.07 million. During the same quarter in the previous year, the company posted ($0.45) earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis.

SkyWest Trading Up 0.7 %

Shares of SKYW traded up $0.52 during mid-day trading on Friday, hitting $73.66. The company had a trading volume of 802,364 shares, compared to its average volume of 484,918. The stock has a market cap of $2.97 billion, a PE ratio of 88.70 and a beta of 1.95. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. SkyWest has a 1-year low of $23.59 and a 1-year high of $79.21. The business’s 50-day simple moving average is $66.73 and its 200-day simple moving average is $54.77.

Insider Activity

In related news, Director James L. Welch sold 2,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $66.72, for a total value of $133,440.00. Following the completion of the sale, the director now owns 56,067 shares of the company’s stock, valued at $3,740,790.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

SKYW has been the topic of several research analyst reports. TheStreet upgraded SkyWest from a “c” rating to a “b-” rating in a research note on Friday, February 2nd. Evercore ISI increased their target price on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. StockNews.com raised SkyWest from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Raymond James increased their target price on shares of SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, TD Cowen raised shares of SkyWest from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $68.00 in a research report on Monday, February 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.25.

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.