SkyWest (NASDAQ:SKYW) Announces Quarterly Earnings Results

SkyWest (NASDAQ:SKYW) issued its earnings results on Thursday. The transportation company reported $2.34 EPS for the quarter, beating the consensus estimate 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 previous year, the firm posted $0.42 earnings per share.

SkyWest Trading Up 0.8 %

Shares of NASDAQ:SKYW traded up $0.93 during midday trading on Thursday, hitting $116.76. 490,278 shares of the stock were exchanged, compared to its average volume of 331,769. The business’s 50-day moving average price is $108.59 and its 200 day moving average price is $93.81. SkyWest has a 12 month low of $52.78 and a 12 month high of $119.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 19.96 and a beta of 1.98.

Analyst Ratings Changes

Several research analysts have commented on SKYW shares. TD Cowen boosted their price objective on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Raymond James raised their price objective on SkyWest from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $119.00 target price on shares of SkyWest in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.25.

Insider Buying and Selling

In other news, CEO Russell A. Childs sold 27,903 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total value of $3,110,347.41. Following the completion of the sale, the chief executive officer now owns 349,548 shares of the company’s stock, valued at approximately $38,964,115.56. This represents a 7.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the completion of the transaction, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. This represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock worth $10,082,596 in the last ninety days. Company insiders own 2.00% of the company’s stock.

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.