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

SkyWest (NASDAQ:SKYW) announced 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. SkyWest had a net margin of 3.83% and a return on equity of 5.46%. The company had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $800.07 million. During the same period in the previous year, the company earned ($0.45) EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year.

SkyWest Stock Performance

NASDAQ:SKYW opened at $73.66 on Friday. SkyWest has a twelve month low of $23.59 and a twelve month high of $79.21. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 26.59 and a beta of 1.95. The firm’s fifty day simple moving average is $67.02 and its 200 day simple moving average is $55.10.

Analysts Set New Price Targets

Several analysts have recently issued reports on SKYW shares. StockNews.com raised shares of SkyWest from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. 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 report on Monday, February 5th. TheStreet upgraded shares of SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. Raymond James lifted their target price on shares of SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Evercore ISI lifted their target price on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SkyWest has an average rating of “Moderate Buy” and an average price target of $62.25.

Insiders Place Their Bets

In other SkyWest news, Director James L. Welch sold 2,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 56,067 shares in the company, valued at approximately $3,740,790.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company 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.