Sky Harbour Group (NYSE:SKYH) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Sky Harbour Group (NYSE:SKYH) issued its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01), Zacks reports. Sky Harbour Group had a return on equity of 6.45% and a net margin of 2.73%. The company had revenue of $8.36 million for the quarter, compared to analysts’ expectations of $10.55 million.

Sky Harbour Group Stock Performance

Sky Harbour Group stock traded down $0.32 during midday trading on Tuesday, hitting $10.57. 355,301 shares of the company’s stock were exchanged, compared to its average volume of 158,912. Sky Harbour Group has a 12-month low of $8.22 and a 12-month high of $11.70. The stock has a market cap of $810.22 million, a price-to-earnings ratio of -58.75 and a beta of 1.40. The firm’s 50 day simple moving average is $9.84 and its 200 day simple moving average is $9.79.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Weiss Ratings downgraded shares of Sky Harbour Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Roth Capital reaffirmed a “buy” rating and set a $12.50 price objective on shares of Sky Harbour Group in a report on Tuesday, August 18th. Wall Street Zen upgraded Sky Harbour Group from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 20th. Finally, BTIG Research reissued a “buy” rating and issued a $13.00 target price on shares of Sky Harbour Group in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.75.

Insiders Place Their Bets

In other Sky Harbour Group news, Director Andrew J. Gessow bought 5,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $10.85 per share, for a total transaction of $54,250.00. Following the completion of the purchase, the director owned 22,910 shares of the company’s stock, valued at approximately $248,573.50. This represents a 27.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Francisco Gonzalez purchased 3,850 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were bought at an average cost of $9.25 per share, for a total transaction of $35,612.50. Following the acquisition, the chief financial officer owned 718,538 shares of the company’s stock, valued at approximately $6,646,476.50. The trade was a 0.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 13,950 shares of company stock worth $139,568. 40.70% of the stock is currently owned by company insiders.

Sky Harbour Group Company Profile

Sky Harbour Group Corporation develops, owns and operates private aviation hangar campuses at airports in the United States. The company focuses on providing purpose-built infrastructure for business aircraft owners and operators, with facilities designed to support the storage, maintenance and operation of private aircraft. Its airport campuses generally include individual or multi-aircraft hangars, along with amenities such as pilot and crew lounges, office space, parking and other aviation-related services.