SkyWest (NASDAQ:SKYW) Sets New 12-Month High at $66.05

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SkyWest, Inc. (NASDAQ:SKYW) shares reached a new 52-week high on Thursday . The stock traded as high as $66.05 and last traded at $65.93, with a volume of 2908 shares trading hands. The stock had previously closed at $64.79.

Several research analysts have recently commented on SKYW shares. ValuEngine downgraded SkyWest from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 6th. Stephens initiated coverage on SkyWest in a research report on Monday, November 4th. They set an “overweight” rating and a $75.00 price target for the company. Finally, BidaskClub lowered SkyWest from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. SkyWest has a consensus rating of “Buy” and a consensus target price of $68.17.

The company has a market cap of $3.23 billion, a P/E ratio of 12.40 and a beta of 1.56. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.73 and a current ratio of 0.84. The firm’s fifty day moving average is $63.87 and its two-hundred day moving average is $60.19.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Wednesday, October 30th. The transportation company reported $1.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.05. The business had revenue of $760.30 million for the quarter, compared to analyst estimates of $752.93 million. SkyWest had a net margin of 11.04% and a return on equity of 15.52%. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company posted $1.57 earnings per share. On average, equities research analysts expect that SkyWest, Inc. will post 6.23 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Monday, December 30th. SkyWest’s dividend payout ratio (DPR) is 9.06%.

Several institutional investors have recently added to or reduced their stakes in SKYW. Meeder Asset Management Inc. boosted its position in shares of SkyWest by 95.8% in the third quarter. Meeder Asset Management Inc. now owns 646 shares of the transportation company’s stock worth $37,000 after acquiring an additional 316 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of SkyWest during the 3rd quarter worth $39,000. Point72 Asset Management L.P. acquired a new position in shares of SkyWest during the 3rd quarter worth $214,000. Atria Investments LLC acquired a new position in shares of SkyWest during the 2nd quarter worth $229,000. Finally, 6 Meridian raised its holdings in shares of SkyWest by 14.5% during the 4th quarter. 6 Meridian now owns 4,652 shares of the transportation company’s stock worth $301,000 after buying an additional 588 shares in the last quarter. 90.68% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Company Profile (NASDAQ:SKYW)

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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