SkyWest (NASDAQ:SKYW) Posts Earnings Results, Beats Expectations By $0.21 EPS

SkyWest (NASDAQ:SKYW) posted its quarterly earnings results on Thursday. The transportation company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.21, Briefing.com reports. The business had revenue of $804.00 million during the quarter, compared to analyst estimates of $800.07 million. SkyWest had a net margin of 3.83% and a return on equity of 5.46%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.45) earnings per share.

SkyWest Trading Up 0.7 %

NASDAQ:SKYW opened at $73.66 on Friday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 26.59 and a beta of 1.95. SkyWest has a 12 month low of $23.59 and a 12 month high of $79.21. The company’s 50 day moving average is $67.02 and its 200-day moving average is $55.00. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 1.21.

Insider Transactions at SkyWest

In other news, Director James L. Welch sold 2,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $133,440.00. Following the completion of the transaction, the director now directly owns 56,067 shares in the company, valued at approximately $3,740,790.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of SkyWest from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Evercore ISI raised their price objective on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. TD Cowen raised shares of SkyWest from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $55.00 to $68.00 in a research report on Monday, February 5th. Raymond James raised their price objective on shares of SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, TheStreet raised shares of SkyWest from a “c” rating to a “b-” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.25.

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.