SkyWest (NASDAQ:SKYW) Releases Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Posted by Steve Reilly on Nov 1st, 2024

SkyWest (NASDAQ:SKYW – Get Free Report) announced its earnings results on Thursday. The transportation company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24, Briefing.com reports. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The firm had revenue of $912.79 million for the quarter, compared to analysts’ expectations of $896.21 million. During the same quarter in the prior year, the firm earned $0.55 EPS. SkyWest’s quarterly revenue was up 19.1% on a year-over-year basis.

SkyWest Trading Up 6.4 %

Shares of SkyWest stock traded up $6.13 during trading hours on Friday, reaching $101.33. The stock had a trading volume of 691,262 shares, compared to its average volume of 405,734. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02. SkyWest has a 1 year low of $41.96 and a 1 year high of $103.49. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 24.05 and a beta of 1.95. The firm has a 50 day simple moving average of $84.34 and a two-hundred day simple moving average of $79.55.

Analyst Upgrades and Downgrades

Separately, Raymond James boosted their target price on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.00.

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SkyWest Company Profile

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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.