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

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

SkyWest Stock Performance

Shares of SKYW stock traded up $0.52 during trading hours on Friday, reaching $73.66. The stock had a trading volume of 833,364 shares, compared to its average volume of 484,918. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.80. SkyWest has a twelve month low of $23.59 and a twelve month high of $79.21. The firm has a 50-day simple moving average of $66.73 and a 200-day simple moving average of $54.77. The firm has a market capitalization of $2.97 billion, a PE ratio of 88.70 and a beta of 1.95.

Wall Street Analysts Forecast Growth

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

Insider Activity at SkyWest

In other SkyWest news, Director James L. Welch sold 2,000 shares of the firm’s stock in a transaction dated 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 directly owns 56,067 shares in the company, valued at $3,740,790.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

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.