SkyWest (SKYW) Cut to Hold at BidaskClub
BidaskClub downgraded shares of SkyWest (NASDAQ:SKYW) from a buy rating to a hold rating in a research note issued to investors on Saturday.
A number of other brokerages also recently commented on SKYW. Zacks Investment Research upgraded shares of SkyWest from a hold rating to a buy rating and set a $57.00 target price for the company in a report on Wednesday, November 22nd. Deutsche Bank boosted their target price on shares of SkyWest from $47.00 to $55.00 and gave the stock a buy rating in a report on Thursday, October 26th. ValuEngine upgraded SkyWest from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. Imperial Capital boosted their price target on SkyWest from $38.00 to $47.00 and gave the stock an in-line rating in a research note on Tuesday, October 31st. Finally, Cowen boosted their price target on SkyWest from $44.00 to $52.00 and gave the stock an outperform rating in a research note on Monday, October 2nd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $50.60.
SkyWest (SKYW) opened at $49.95 on Friday. The company has a market cap of $2,590.00, a PE ratio of -19.21 and a beta of 1.77. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61. SkyWest has a fifty-two week low of $30.40 and a fifty-two week high of $54.85.
SkyWest (NASDAQ:SKYW) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.03. The business had revenue of $831.93 million during the quarter, compared to the consensus estimate of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. equities analysts predict that SkyWest will post 3.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 29th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.64%. SkyWest’s payout ratio is -12.31%.
In other news, Director Jerry C. Atkin sold 110,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $48.10, for a total transaction of $5,291,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Russell A. Childs sold 18,554 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $51.33, for a total value of $952,376.82. The disclosure for this sale can be found here. Insiders have sold 154,239 shares of company stock worth $7,512,577 in the last 90 days. Insiders own 3.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in SkyWest by 1.5% in the second quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock valued at $325,000 after buying an additional 133 shares during the last quarter. Legal & General Group Plc boosted its position in SkyWest by 9.1% in the second quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock valued at $3,277,000 after buying an additional 7,821 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in SkyWest by 55.3% in the second quarter. BNP Paribas Arbitrage SA now owns 21,649 shares of the transportation company’s stock valued at $760,000 after buying an additional 7,712 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in SkyWest by 108.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock valued at $100,000 after buying an additional 1,488 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in SkyWest in the second quarter valued at approximately $3,499,000. Institutional investors and hedge funds own 90.75% of the company’s stock.
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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