SkyWest (NASDAQ:SKYW) Releases Earnings Results, Misses Expectations By $0.49 EPS
SkyWest (NASDAQ:SKYW) released its earnings results on Thursday. The transportation company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.49), MarketWatch Earnings reports. The company had revenue of $350.04 million during the quarter, compared to analyst estimates of $352.43 million. SkyWest had a net margin of 6.51% and a return on equity of 7.81%.
SkyWest stock traded down $2.08 during midday trading on Friday, reaching $26.31. 1,135,902 shares of the company’s stock were exchanged, compared to its average volume of 405,432. SkyWest has a 52 week low of $10.58 and a 52 week high of $66.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.65 and a current ratio of 0.75. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 7.97 and a beta of 1.85. The stock’s 50-day simple moving average is $31.04 and its 200 day simple moving average is $36.93.
A number of analysts recently issued reports on SKYW shares. Deutsche Bank lowered their target price on SkyWest from $60.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Sidoti lifted their target price on SkyWest from $44.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Zacks Investment Research downgraded SkyWest from a “hold” rating to a “strong sell” rating and set a $27.00 target price on the stock. in a research report on Wednesday, May 13th. BidaskClub downgraded SkyWest from a “hold” rating to a “sell” rating in a research report on Thursday, July 23rd. Finally, Goldman Sachs Group lifted their price target on SkyWest from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $54.44.
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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