SkyWest, Inc. (NASDAQ: SKYW) is expected to post quarterly sales of $ 732.61 million
Stock analysts expect SkyWest, Inc. (NASDAQ: SKYW) to report sales of $ 732.61 million for the current quarter, Zack reports. Two analysts have released earnings estimates for SkyWest, with the highest sales estimate at $ 765.21 million and the lowest estimate at $ 700.00 million. SkyWest reported sales of $ 589.64 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.2%. The company is expected to report its next results on Thursday, February 3.
On average, analysts expect SkyWest to report annual revenue of $ 2.67 billion for the current fiscal year, with estimates ranging from $ 2.64 billion to $ 2.70 billion. dollars. For next year, analysts expect the company to report revenue of $ 3.16 billion, with estimates ranging from $ 3.08 billion to $ 3.24 billion. Zacks’ sales averages are an average based on a survey of seller-side research analysts who cover SkyWest.
SkyWest (NASDAQ: SKYW) last reported its quarterly results on Thursday, October 28. The transportation company reported earnings per share (EPS) of $ 1.45 for the quarter, beating the consensus estimate of $ 0.94 by $ 0.51. SkyWest had a return on equity of 5.66% and a net margin of 2.42%. The company posted revenue of $ 744.78 million in the quarter, compared to a consensus estimate of $ 684.87 million. In the same quarter of last year, the company posted EPS of $ 0.66. The company’s quarterly revenue increased 62.8% year-over-year.
Several equity research analysts have published reports on the company. Cowen downgraded SkyWest from an “outperformance” rating to a “market performance” rating and lowered its price target for the company from $ 50.00 to $ 42.00 in a report released on Wednesday, December 15. Zacks investment research downgraded SkyWest from a “buy” rating to a “hold” rating and set a target price of $ 54.00 for the company. in a report on Tuesday, September 28. Finally, Raymond James lowered his price target on SkyWest from $ 67.00 to $ 63.00 and set a “strong buy” rating for the company in a report released on Friday, October 29. Two investment analysts gave the stock a conservation rating, two issued a buy rating and one assigned a high buy rating to the company’s shares. According to MarketBeat, SkyWest currently has an average “Buy” rating and a consensus target price of $ 58.80.
Actions of SkyWest Actions open for $ 39.30 on Fridays. The company has a fifty-day simple moving average of $ 42.95 and a two-hundred-day simple moving average of $ 44.22. SkyWest has a one-year low at $ 36.35 and a one-year high at $ 61.15. The company has a market cap of $ 1.98 billion, a price-to-earnings ratio of 33.03 and a beta of 1.87. The company has a debt to equity ratio of 1.15, a current ratio of 0.96, and a rapid ratio of 0.88.
In other SkyWest news, an insider Wade J. Steel sold 13,500 shares of SkyWest in a transaction dated Monday, November 8. The stock was sold for an average price of $ 51.07, for a total value of $ 689,445.00. The transaction has been disclosed in a legal file with the SEC, which can be accessed via this link. 2.10% of the shares are held by insiders.
A number of institutional investors have recently increased or reduced their holdings in SKYW. UBS Asset Management Americas Inc. increased its holdings of SkyWest shares by 5.6% during the third quarter. UBS Asset Management Americas Inc. now owns 22,696 shares of the transportation company valued at $ 1,120,000 after purchasing an additional 1,206 shares in the last quarter. First Mercantile Trust Co. increased its holdings of SkyWest shares by 7.2% during the third quarter. First Mercantile Trust Co. now owns 4,439 shares of the transportation company valued at $ 219,000 after purchasing an additional 300 shares in the last quarter. Bank of New York Mellon Corp increased its holdings of SkyWest shares by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 2,595,835 shares of the transportation company valued at $ 128,080,000 after purchasing an additional 128,484 shares in the last quarter. Phocas Financial Corp. increased its holdings of SkyWest shares by 148.4% in the third quarter. Phocas Financial Corp. now owns 158,581 shares of the transportation company valued at $ 7,824,000 after purchasing an additional 94,736 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in SkyWest shares by 68.9% during the third quarter. BNP Paribas Arbitrage SA now owns 61,500 shares of the transport company valued at $ 3,034,000 after purchasing 25,093 additional shares during the last quarter. Hedge funds and other institutional investors hold 86.31% of the company’s shares.
SkyWest, Inc. is the holding company of two scheduled passenger airlines and an aircraft rental company. SkyWest Airlines provide commercial air service to cities across North America with nearly 3,000 daily flights carrying more than 53 million passengers per year. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
Featured Article: What Are the Benefits of Investing in REITs?
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in SkyWest now?
Before you consider SkyWest, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the top five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes a hold of… and SkyWest was not on the list.
While SkyWest currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here