Shares of SkyWest Inc. (NASDAQ:SKYW) saw unusually-strong trading volume on Monday . Approximately 641,100 shares were traded during trading, an increase of 54% from the previous session’s volume of 415,839 shares.The stock last traded at $25.51 and had previously closed at $25.46.
Several equities analysts have recently commented on SKYW shares. Raymond James Financial Inc. upgraded shares of SkyWest from a “mkt perform” rating to an “outperform” rating in a research report on Wednesday, June 1st. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, August 2nd. Finally, Deutsche Bank AG upped their price target on shares of SkyWest from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Five research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $28.40.
The firm has a 50 day moving average of $27.97 and a 200-day moving average of $24.43. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.20 and a beta of 1.69.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/skywest-inc-skyw-sees-strong-trading-volume.html
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.10. SkyWest had a return on equity of 8.47% and a net margin of 4.63%. The company earned $801.34 million during the quarter, compared to analysts’ expectations of $764.04 million. During the same period in the prior year, the business earned $0.61 earnings per share. SkyWest’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts forecast that SkyWest Inc. will post $2.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 30th will be given a $0.05 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. SkyWest’s dividend payout ratio is 7.19%.
In other news, CEO Russell A. Childs sold 21,516 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $28.79, for a total value of $619,445.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert J. Simmons acquired 1,000 shares of SkyWest stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $27.69 per share, with a total value of $27,690.00. The disclosure for this purchase can be found here. 4.00% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of SKYW. Emerald Acquisition Ltd. purchased a new position in shares of SkyWest during the second quarter valued at approximately $22,432,000. Alliancebernstein L.P. boosted its position in shares of SkyWest by 50.6% in the second quarter. Alliancebernstein L.P. now owns 2,163,104 shares of the company’s stock valued at $57,236,000 after buying an additional 727,060 shares during the period. Vanguard Group Inc. boosted its position in shares of SkyWest by 9.7% in the second quarter. Vanguard Group Inc. now owns 5,104,762 shares of the company’s stock valued at $135,073,000 after buying an additional 451,453 shares during the period. JPMorgan Chase & Co. boosted its position in shares of SkyWest by 144.8% in the second quarter. JPMorgan Chase & Co. now owns 746,037 shares of the company’s stock valued at $19,741,000 after buying an additional 441,228 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in shares of SkyWest by 16.4% in the first quarter. Glenmede Trust Co. NA now owns 1,523,439 shares of the company’s stock valued at $30,452,000 after buying an additional 214,574 shares during the period. 87.00% of the stock is owned by institutional investors.
Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.
Receive News & Ratings for SkyWest Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SkyWest Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.