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

SkyWest (NASDAQ:SKYW) posted its quarterly earnings data on Thursday. The transportation company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.21, Briefing.com reports. The business had revenue of $804.00 million for the quarter, compared to the consensus estimate of $800.07 million. SkyWest had a net margin of 1.17% and a return on equity of 1.59%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) earnings per share.

SkyWest Trading Up 0.7 %

Shares of SKYW traded up $0.52 during trading on Friday, reaching $73.66. 802,364 shares of the company traded hands, compared to its average volume of 484,918. The stock has a 50-day simple moving average of $66.73 and a 200-day simple moving average of $54.77. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 1.21. SkyWest has a twelve month low of $23.59 and a twelve month high of $79.21. The stock has a market cap of $2.97 billion, a PE ratio of 88.70 and a beta of 1.95.

Analyst Upgrades and Downgrades

SKYW has been the subject of a number of recent research reports. Evercore ISI increased their target price 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. Raymond James increased their target price 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. TheStreet upgraded shares of SkyWest from a “c” rating to a “b-” rating in a research report on Friday, February 2nd. TD Cowen upgraded shares of SkyWest from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $68.00 in a research report on Monday, February 5th. Finally, StockNews.com upgraded shares of SkyWest from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Insider Activity

In other news, Director James L. Welch sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.72, for a total value of $133,440.00. Following the completion of the transaction, the director now owns 56,067 shares of the company’s stock, valued at $3,740,790.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% 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.