Brokerages expect SkyWest, Inc. (NASDAQ:SKYW) to post $0.48 per share earnings

Wall Street analysts expect SkyWest, Inc. (NASDAQ:SKYW – Get Rating) to report earnings of $0.48 per share for the current fiscal quarter, according to Zacks. Two analysts released SkyWest earnings estimates, with the highest EPS estimate being $0.56 and the lowest estimate $0.40. SkyWest reported earnings per share of $1.22 in the same quarter last year, which would indicate a negative growth rate of 60.7% year over year. The company is expected to release its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect SkyWest to report annual earnings of $0.85 per share for the current fiscal year, with EPS estimates ranging from $0.73 to $0.98. For the next fiscal year, analysts expect the company to post earnings of $0.92 per share, with EPS estimates ranging from ($0.71) to $2.25. Zacks Investment Research’s EPS calculations are an average average based on a survey of research analysts who cover SkyWest.

SkyWest (NASDAQ:SKYW – Get Rating) last announced its quarterly results on Thursday, April 28. The transportation company reported EPS of $0.35 for the quarter, beating the consensus estimate of $0.03 by $0.32. SkyWest had a net margin of 3.22% and a return on equity of 6.95%. The company posted revenue of $735.15 million for the quarter, versus analyst estimates of $699.63 million. During the same period last year, the company achieved EPS of $0.71. SkyWest’s revenue for the quarter increased 37.5% compared to the same quarter last year.

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Several research analysts have published reports on SKYW shares. Goldman Sachs Group lowered its price target on SkyWest shares from $62.00 to $54.00 and set a “buy” rating on the stock in a research report Thursday, April 7. Raymond James downgraded SkyWest shares from an “outperforming” rating to a “market performing” rating in a Wednesday, April 27 research report. Zacks Investment Research moved SkyWest shares from a “sell” rating to a “hold” rating and set a price target of $27.00 on the stock in a research report on Tuesday, March 15. StockNews.com began covering SkyWest stocks in a research report on Thursday, March 31. They have set a “holding” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on SkyWest shares from $39.00 to $30.00 in a Friday, April 29 research report. Five investment analysts gave the stock a hold rating and one gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.60.

NASDAQ: SKYW was down $0.94 in Friday’s midday session, hitting $25.04. 373,715 shares of the company were traded, against an average volume of 602,705. The company has a fifty-day simple moving average of $28.23 and a 200-day simple moving average of $34.48. SkyWest has a fifty-two week low of $22.78 and a fifty-two week high of $53.05. The company has a current ratio of 0.94, a quick ratio of 0.84 and a debt ratio of 1.22. The company has a market capitalization of $1.27 billion, a PE ratio of 13.54 and a beta of 1.74.

Separately, director Jerry C. Atkin acquired 55,000 shares of the company in a transaction that took place on Friday, March 11. The shares were purchased at an average price of $25.33 per share, with a total value of $1,393,150.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the shares are held by insiders.

A number of hedge funds have recently increased or reduced their stakes in SKYW. First Trust Advisors LP increased its stake in SkyWest by 9.9% during the first quarter. First Trust Advisors LP now owns 76,307 shares of the transportation company worth $4,143,000 after buying an additional 6,888 shares last quarter. Morgan Stanley increased its position in SkyWest by 77.8% during the second quarter. Morgan Stanley now owns 333,359 shares of the transportation company worth $14,358,000 after acquiring 145,827 additional shares in the last quarter. Advisor Group Holdings Inc. increased its position in SkyWest shares by 85.1% in the third quarter. Advisor Group Holdings Inc. now owns 770 shares of the transportation company valued at $38,000 after buying 354 additional shares in the last quarter. Barclays PLC raised its position in shares of SkyWest by 20.7% in the third quarter. Barclays PLC now owns 51,459 shares in the transport company valued at $2,539,000 after buying a further 8,809 shares in the last quarter. Finally, CIBC Asset Management Inc. increased its position in SkyWest shares by 6.2% in the third quarter. CIBC Asset Management Inc. now owns 6,215 shares of the transportation company valued at $307,000 after purchasing an additional 362 shares in the last quarter. 87.28% of the shares are currently held by hedge funds and other institutional investors.

About Sky West (Get an assessment)

SkyWest, Inc. is the holding company of two scheduled passenger airlines and an aircraft leasing company. SkyWest airlines provide commercial air service to cities across 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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