Zacks: Brokerages Expect SkyWest, Inc. (SKYW) to Post $0.83 EPS

Analysts expect that SkyWest, Inc. (NASDAQ:SKYW) will report earnings of $0.83 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for SkyWest’s earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.90. SkyWest posted earnings per share of $0.65 in the same quarter last year, which suggests a positive year over year growth rate of 27.7%. The firm is scheduled to report its next earnings results on Thursday, April 26th.

On average, analysts expect that SkyWest will report full year earnings of $4.39 per share for the current year, with EPS estimates ranging from $4.30 to $4.50. For the next fiscal year, analysts expect that the firm will post earnings of $5.04 per share, with EPS estimates ranging from $4.90 to $5.15. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover SkyWest.

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SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.10. The firm had revenue of $797.20 million for the quarter, compared to analysts’ expectations of $778.13 million. SkyWest had a return on equity of 12.08% and a net margin of 13.39%. SkyWest’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS.

A number of brokerages recently weighed in on SKYW. BidaskClub raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 21st. Imperial Capital lifted their target price on SkyWest from $47.00 to $55.00 and gave the company an “in-line” rating in a research note on Tuesday, February 6th. Cowen reaffirmed a “buy” rating and set a $60.00 target price on shares of SkyWest in a research note on Tuesday, January 9th. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research cut SkyWest from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and four have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.00.

In related news, CFO Robert J. Simmons sold 39,339 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $55.94, for a total value of $2,200,623.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Woodward sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $56.90, for a total value of $256,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,639 shares of company stock worth $2,781,474. Company insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of SkyWest by 2.8% in the 4th quarter. BlackRock Inc. now owns 6,459,519 shares of the transportation company’s stock valued at $343,000,000 after buying an additional 178,016 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of SkyWest by 108.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,153,757 shares of the transportation company’s stock valued at $114,367,000 after buying an additional 1,119,617 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of SkyWest by 19.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,863,468 shares of the transportation company’s stock valued at $98,950,000 after buying an additional 302,000 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of SkyWest by 4.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,488,411 shares of the transportation company’s stock valued at $79,034,000 after buying an additional 68,348 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of SkyWest by 2.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,243,724 shares of the transportation company’s stock valued at $54,603,000 after buying an additional 33,310 shares in the last quarter. 90.33% of the stock is owned by institutional investors and hedge funds.

SkyWest (NASDAQ:SKYW) opened at $54.95 on Friday. The firm has a market capitalization of $2,866.47, a PE ratio of 6.81 and a beta of 1.74. SkyWest has a 12 month low of $30.40 and a 12 month high of $60.65. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.21 and a quick ratio of 1.07.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.73%. The ex-dividend date is Wednesday, March 28th. This is a boost from SkyWest’s previous quarterly dividend of $0.08. SkyWest’s payout ratio is 3.97%.

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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.

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