SkyWest (NASDAQ:SKYW) Issues Quarterly Earnings Results

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

SkyWest Price Performance

NASDAQ SKYW opened at $120.92 on Friday. SkyWest has a 1 year low of $52.78 and a 1 year high of $135.57. The company has a fifty day simple moving average of $108.91 and a 200 day simple moving average of $94.22. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market cap of $4.88 billion, a P/E ratio of 20.67 and a beta of 1.98.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SKYW. TD Cowen upped their target price on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a research report on Friday, November 15th. Finally, Raymond James reiterated an “outperform” rating and issued a $130.00 price objective (up from $120.00) on shares of SkyWest in a report on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Insider Buying and Selling

In other news, CFO Robert J. Simmons sold 16,485 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total value of $1,731,254.70. Following the completion of the sale, the chief financial officer now directly owns 113,539 shares of the company’s stock, valued at approximately $11,923,865.78. This represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction on 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 directly owns 97,654 shares in the company, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,467 shares of company stock worth $10,082,596 in the last quarter. 2.00% of the stock is currently owned by company insiders.

About SkyWest

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.