SkyWest (NASDAQ:SKYW) Announces Quarterly Earnings Results, Beats Expectations By $0.21 EPS

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

SkyWest Stock Up 0.7 %

Shares of SkyWest stock traded up $0.52 during trading hours on Friday, reaching $73.66. 833,364 shares of the company were exchanged, compared to its average volume of 484,918. The firm has a market cap of $2.97 billion, a PE ratio of 88.70 and a beta of 1.95. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.80 and a current ratio of 0.90. SkyWest has a 1 year low of $23.59 and a 1 year high of $79.21. The stock’s fifty day moving average is $66.73 and its 200 day moving average is $54.77.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.