SkyWest (NASDAQ:SKYW) Announces Quarterly Earnings Results

SkyWest (NASDAQ:SKYW) posted its earnings results on Thursday. The transportation company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.09, Briefing.com reports. The business had revenue of $867.10 million for the quarter, compared to analysts’ expectations of $826.56 million. SkyWest had a net margin of 5.55% and a return on equity of 8.27%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS.

SkyWest Stock Performance

Shares of NASDAQ:SKYW traded down $7.74 during trading on Friday, hitting $76.74. The company’s stock had a trading volume of 947,488 shares, compared to its average volume of 328,984. The company has a 50-day moving average of $79.90 and a 200-day moving average of $70.03. SkyWest has a 12 month low of $36.91 and a 12 month high of $87.86. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.81 and a quick ratio of 0.72. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 27.70 and a beta of 1.96.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SKYW. Evercore ISI upped their target price on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. TD Cowen upped their target price on shares of SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.67.

Insider Transactions at SkyWest

In other news, CAO Eric Woodward sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $80.56, for a total value of $402,800.00. Following the transaction, the chief accounting officer now owns 48,426 shares in the company, valued at approximately $3,901,198.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SkyWest news, Director James L. Welch sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $79.08, for a total transaction of $158,160.00. Following the sale, the director now owns 46,462 shares in the company, valued at approximately $3,674,214.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Eric Woodward sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $80.56, for a total transaction of $402,800.00. Following the sale, the chief accounting officer now owns 48,426 shares in the company, valued at approximately $3,901,198.56. The disclosure for this sale can be found here. Insiders have sold 94,290 shares of company stock worth $7,282,611 in the last quarter. Company 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.