Bank of Montreal Can Increases Stake in SkyWest, Inc. (SKYW)
Bank of Montreal Can increased its stake in SkyWest, Inc. (NASDAQ:SKYW) by 181.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,345 shares of the transportation company’s stock after buying an additional 6,670 shares during the period. Bank of Montreal Can’s holdings in SkyWest were worth $364,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its stake in SkyWest by 0.7% in the first quarter. Suntrust Banks Inc. now owns 8,133 shares of the transportation company’s stock valued at $278,000 after buying an additional 55 shares in the last quarter. Flinton Capital Management LLC raised its stake in SkyWest by 3.3% in the first quarter. Flinton Capital Management LLC now owns 3,162 shares of the transportation company’s stock valued at $108,000 after buying an additional 102 shares in the last quarter. Capital One National Association raised its stake in SkyWest by 1.2% in the first quarter. Capital One National Association now owns 9,645 shares of the transportation company’s stock valued at $330,000 after buying an additional 110 shares in the last quarter. State of Alaska Department of Revenue raised its stake in SkyWest by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 5,720 shares of the transportation company’s stock valued at $195,000 after buying an additional 140 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in SkyWest by 1.1% in the first quarter. BNP Paribas Arbitrage SA now owns 13,937 shares of the transportation company’s stock valued at $477,000 after buying an additional 145 shares in the last quarter. 89.44% of the stock is owned by institutional investors and hedge funds.
Shares of SkyWest, Inc. (NASDAQ:SKYW) traded down 1.16% during mid-day trading on Wednesday, hitting $34.10. The stock had a trading volume of 117,140 shares. The stock’s market capitalization is $1.77 billion. The stock’s 50-day moving average price is $36.34 and its 200-day moving average price is $35.49. SkyWest, Inc. has a 12-month low of $25.04 and a 12-month high of $39.85.
SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. The business had revenue of $809.76 million during the quarter, compared to the consensus estimate of $790.14 million. During the same quarter last year, the firm earned $0.77 earnings per share. SkyWest’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts anticipate that SkyWest, Inc. will post $3.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 29th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, September 28th. SkyWest’s dividend payout ratio is presently -11.31%.
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Several research firms have recently weighed in on SKYW. Cowen and Company raised their price objective on SkyWest from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, August 10th. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a research note on Monday, May 22nd. BidaskClub lowered SkyWest from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. SkyWest presently has an average rating of “Buy” and an average price target of $41.67.
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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