SkyWest (NASDAQ:SKYW) Announces Quarterly Earnings Results

SkyWest (NASDAQ:SKYW) announced its quarterly earnings results on Thursday. The transportation company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.59, Zacks reports. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. During the same period in the previous year, the company earned $0.42 earnings per share.

SkyWest Trading Up 0.8 %

NASDAQ SKYW traded up $0.93 during mid-day trading on Thursday, reaching $116.76. 492,575 shares of the stock were exchanged, compared to its average volume of 331,976. The business’s fifty day simple moving average is $108.59 and its 200 day simple moving average is $93.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. The stock has a market capitalization of $4.71 billion, a PE ratio of 19.96 and a beta of 1.98. SkyWest has a 1-year low of $52.78 and a 1-year high of $119.36.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Raymond James raised their target price on shares of SkyWest from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 30th. TD Cowen lifted their price objective on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $119.00 target price on shares of SkyWest in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.25.

Insiders Place Their Bets

In other news, CEO Russell A. Childs sold 27,903 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the completion of the transaction, the chief executive officer now owns 349,548 shares of the company’s stock, valued at $38,964,115.56. This represents a 7.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wade J. Steel sold 19,079 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the transaction, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock valued at $10,082,596 in the last quarter. 2.00% of the stock is currently owned by company insiders.

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.