$741.39 Million in Sales Expected for SkyWest, Inc. (NASDAQ:SKYW) This Quarter

Equities research analysts expect SkyWest, Inc. (NASDAQ:SKYW) to report sales of $741.39 million for the current quarter, according to Zacks. Three analysts have issued estimates for SkyWest’s earnings, with estimates ranging from $726.97 million to $750.00 million. SkyWest reported sales of $803.49 million during the same quarter last year, which would suggest a negative year over year growth rate of 7.7%. The company is expected to report its next quarterly earnings report on Thursday, January 30th.

On average, analysts expect that SkyWest will report full year sales of $2.97 billion for the current fiscal year, with estimates ranging from $2.96 billion to $2.98 billion. For the next year, analysts expect that the firm will report sales of $3.05 billion, with estimates ranging from $2.94 billion to $3.13 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover SkyWest.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.05. SkyWest had a net margin of 11.04% and a return on equity of 15.52%. The company had revenue of $760.30 million for the quarter, compared to analyst estimates of $752.93 million. During the same quarter in the previous year, the business earned $1.57 earnings per share. SkyWest’s revenue was down 8.3% compared to the same quarter last year.

SKYW has been the topic of several recent research reports. Evercore ISI reaffirmed a “buy” rating and set a $72.00 target price on shares of SkyWest in a report on Thursday, August 8th. Stephens began coverage on SkyWest in a research note on Monday, November 4th. They issued an “overweight” rating and a $75.00 price target for the company. BidaskClub upgraded SkyWest from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, ValuEngine lowered SkyWest from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $68.17.

NASDAQ SKYW opened at $62.05 on Friday. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 11.71 and a beta of 1.56. The company has a quick ratio of 0.73, a current ratio of 0.84 and a debt-to-equity ratio of 1.36. SkyWest has a twelve month low of $42.38 and a twelve month high of $64.60. The stock has a fifty day simple moving average of $60.94 and a 200 day simple moving average of $59.21.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Monday, December 30th. SkyWest’s dividend payout ratio (DPR) is presently 9.06%.

In related news, Director Jerry C. Atkin sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $60.07, for a total transaction of $600,700.00. Following the completion of the sale, the director now owns 467,109 shares of the company’s stock, valued at $28,059,237.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wade J. Steel sold 17,030 shares of SkyWest stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $60.02, for a total value of $1,022,140.60. The disclosure for this sale can be found here. Insiders have sold 32,553 shares of company stock valued at $1,955,270 in the last three months. 3.60% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP grew its holdings in SkyWest by 9.9% in the first quarter. First Trust Advisors LP now owns 76,307 shares of the transportation company’s stock worth $4,143,000 after purchasing an additional 6,888 shares during the period. Strs Ohio raised its holdings in shares of SkyWest by 10.1% during the second quarter. Strs Ohio now owns 17,500 shares of the transportation company’s stock valued at $1,061,000 after purchasing an additional 1,600 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of SkyWest by 8.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,250 shares of the transportation company’s stock worth $500,000 after purchasing an additional 676 shares in the last quarter. Aperio Group LLC boosted its position in shares of SkyWest by 1.4% during the 2nd quarter. Aperio Group LLC now owns 55,384 shares of the transportation company’s stock worth $3,360,000 after purchasing an additional 748 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of SkyWest by 2.1% in the 2nd quarter. Swiss National Bank now owns 24,100 shares of the transportation company’s stock valued at $1,462,000 after buying an additional 500 shares during the period. 90.67% of the stock is currently owned by hedge funds and other 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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