ValuEngine Downgrades SkyWest (SKYW) to Sell

ValuEngine downgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a sell rating in a report released on Thursday morning.

A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank boosted their target price on shares of SkyWest from $70.00 to $75.00 and gave the company a buy rating in a report on Wednesday, October 31st. Zacks Investment Research cut shares of SkyWest from a strong-buy rating to a hold rating in a research report on Monday, October 1st. BidaskClub raised shares of SkyWest from a sell rating to a hold rating in a research report on Friday, August 17th. Imperial Capital reaffirmed an in-line rating and issued a $58.00 price target on shares of SkyWest in a report on Friday, November 2nd. Finally, Goldman Sachs Group initiated coverage on shares of SkyWest in a report on Monday, November 12th. They set a neutral rating and a $62.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $65.57.

NASDAQ SKYW opened at $52.59 on Thursday. SkyWest has a 12 month low of $46.99 and a 12 month high of $65.80. The company has a current ratio of 1.15, a quick ratio of 1.02 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $2.79 billion, a P/E ratio of 15.33 and a beta of 1.52.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Tuesday, October 30th. The transportation company reported $1.57 earnings per share for the quarter, beating 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 business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $825.57 million. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts forecast that SkyWest will post 5.09 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, December 28th. This represents a $0.40 annualized dividend and a yield of 0.76%. SkyWest’s dividend payout ratio (DPR) is presently 11.66%.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in SkyWest by 7.2% in the second quarter. BlackRock Inc. now owns 6,979,037 shares of the transportation company’s stock worth $362,211,000 after purchasing an additional 470,480 shares during the period. Morgan Stanley increased its position in SkyWest by 81.6% in the third quarter. Morgan Stanley now owns 522,121 shares of the transportation company’s stock worth $30,754,000 after purchasing an additional 234,672 shares during the period. Renaissance Technologies LLC increased its position in SkyWest by 10.1% in the second quarter. Renaissance Technologies LLC now owns 2,160,068 shares of the transportation company’s stock worth $112,108,000 after purchasing an additional 199,000 shares during the period. Wells Fargo & Company MN increased its position in SkyWest by 26.5% in the third quarter. Wells Fargo & Company MN now owns 708,396 shares of the transportation company’s stock worth $41,724,000 after purchasing an additional 148,199 shares during the period. Finally, Copper Rock Capital Partners LLC grew its position in shares of SkyWest by 25.6% during the 3rd quarter. Copper Rock Capital Partners LLC now owns 477,771 shares of the transportation company’s stock worth $28,260,000 after buying an additional 97,401 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.

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.

Further Reading: Hedge Funds

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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