Zacks: Brokerages Expect SkyWest, Inc. (NASDAQ:SKYW) Will Announce Earnings of $1.60 Per Share

Wall Street brokerages forecast that SkyWest, Inc. (NASDAQ:SKYW) will report $1.60 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for SkyWest’s earnings. The highest EPS estimate is $1.65 and the lowest is $1.50. SkyWest reported earnings of $1.43 per share during the same quarter last year, which would indicate a positive year over year growth rate of 11.9%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, July 31st.

On average, analysts expect that SkyWest will report full-year earnings of $6.10 per share for the current year, with EPS estimates ranging from $6.00 to $6.20. For the next financial year, analysts expect that the company will report earnings of $6.42 per share, with EPS estimates ranging from $6.10 to $6.60. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for SkyWest.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.18. The company had revenue of $723.69 million during the quarter, compared to analysts’ expectations of $693.32 million. SkyWest had a return on equity of 15.23% and a net margin of 9.94%. SkyWest’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share.

Several research analysts have recently weighed in on SKYW shares. Stifel Nicolaus started coverage on SkyWest in a research report on Monday, April 15th. They set a “buy” rating and a $68.00 price objective for the company. BidaskClub cut Xperi from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 19th. Imperial Capital reissued an “outperform” rating and set a $5.50 price target (down from $11.00) on shares of Town Sports International in a research report on Tuesday, April 30th. Finally, ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. SkyWest has an average rating of “Buy” and an average target price of $66.75.

SKYW stock opened at $59.57 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $3.11 billion, a PE ratio of 11.24 and a beta of 1.64. The stock’s 50-day moving average price is $60.06. SkyWest has a fifty-two week low of $42.38 and a fifty-two week high of $65.80.

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 28th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.48 annualized dividend and a yield of 0.81%. SkyWest’s dividend payout ratio (DPR) is presently 9.06%.

In related news, CEO Russell A. Childs sold 17,853 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $60.39, for a total transaction of $1,078,142.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry C. Atkin sold 32,755 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $61.40, for a total value of $2,011,157.00. Following the completion of the sale, the director now owns 698,987 shares in the company, valued at approximately $42,917,801.80. The disclosure for this sale can be found here. Insiders have sold 160,389 shares of company stock valued at $9,763,340 over the last three months. Insiders own 3.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SKYW. LPL Financial LLC bought a new stake in SkyWest in the fourth quarter valued at approximately $497,000. PNC Financial Services Group Inc. raised its stake in SkyWest by 17.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,153 shares of the transportation company’s stock valued at $140,000 after buying an additional 458 shares during the period. Raymond James & Associates raised its stake in SkyWest by 30.5% in the fourth quarter. Raymond James & Associates now owns 42,327 shares of the transportation company’s stock valued at $1,882,000 after buying an additional 9,889 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in SkyWest by 158.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,053 shares of the transportation company’s stock valued at $625,000 after buying an additional 8,614 shares during the period. Finally, Hsbc Holdings PLC raised its stake in SkyWest by 57.3% in the fourth quarter. Hsbc Holdings PLC now owns 29,717 shares of the transportation company’s stock valued at $1,322,000 after buying an additional 10,826 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

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.

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