SkyWest, Inc. (SKYW) Receives Consensus Rating of “Buy” from Analysts

SkyWest, Inc. (NASDAQ:SKYW) has been given a consensus recommendation of “Buy” by the nine brokerages that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $65.57.

Several equities research analysts have recently issued reports on SKYW shares. Zacks Investment Research lowered shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 1st. BidaskClub lowered shares of SkyWest from a “sell” rating to a “strong sell” rating in a research note on Friday, October 5th. ValuEngine lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Deutsche Bank raised their price target on shares of SkyWest from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, Goldman Sachs Group started coverage on shares of SkyWest in a research note on Monday, November 12th. They set a “neutral” rating and a $62.00 price target for the company.

NASDAQ:SKYW traded down $0.50 on Thursday, hitting $55.51. The stock had a trading volume of 243,000 shares, compared to its average volume of 242,232. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.02 and a current ratio of 1.15. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 16.18 and a beta of 1.56. SkyWest has a 1 year low of $46.99 and a 1 year high of $65.80.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Tuesday, October 30th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.17. SkyWest had a net margin of 15.65% and a return on equity of 13.99%. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $825.57 million. During the same quarter last year, the business posted $1.01 EPS. SkyWest’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that SkyWest will post 5.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Monday, December 31st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, December 28th. SkyWest’s dividend payout ratio (DPR) is presently 11.66%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in SkyWest by 4.2% in the 3rd quarter. BlackRock Inc. now owns 7,269,832 shares of the transportation company’s stock worth $428,192,000 after buying an additional 290,795 shares during the period. Vanguard Group Inc. boosted its holdings in SkyWest by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,338,468 shares of the transportation company’s stock worth $373,336,000 after buying an additional 95,262 shares during the period. Bank of New York Mellon Corp boosted its holdings in SkyWest by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,968,109 shares of the transportation company’s stock worth $174,822,000 after buying an additional 56,128 shares during the period. Renaissance Technologies LLC boosted its holdings in SkyWest by 8.4% in the 3rd quarter. Renaissance Technologies LLC now owns 2,341,568 shares of the transportation company’s stock worth $137,918,000 after buying an additional 181,500 shares during the period. Finally, FMR LLC boosted its holdings in SkyWest by 1.7% in the 2nd quarter. FMR LLC now owns 1,302,271 shares of the transportation company’s stock worth $67,588,000 after buying an additional 21,812 shares during the period. 89.99% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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