State Street Corp raised its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,375,036 shares of the transportation company’s stock after buying an additional 92,598 shares during the period. State Street Corp owned about 2.66% of SkyWest worth $47,093,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of SkyWest by 49,259.4% in the first quarter. BlackRock Inc. now owns 6,176,837 shares of the transportation company’s stock worth $211,556,000 after buying an additional 6,164,323 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of SkyWest by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,788,450 shares of the transportation company’s stock worth $198,255,000 after buying an additional 198,452 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of SkyWest by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,383,507 shares of the transportation company’s stock worth $150,134,000 after buying an additional 16,894 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of SkyWest by 3.9% in the first quarter. Alliancebernstein L.P. now owns 2,996,901 shares of the transportation company’s stock worth $102,644,000 after buying an additional 111,979 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of SkyWest by 18.5% in the first quarter. Renaissance Technologies LLC now owns 1,178,000 shares of the transportation company’s stock worth $40,347,000 after buying an additional 183,900 shares during the last quarter. Institutional investors and hedge funds own 90.84% of the company’s stock.
Shares of SkyWest, Inc. (NASDAQ SKYW) opened at 36.70 on Friday. The firm’s market cap is $1.90 billion. SkyWest, Inc. has a 12-month low of $25.04 and a 12-month high of $39.85. The firm has a 50-day moving average of $36.62 and a 200-day moving average of $35.58.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. The firm had revenue of $809.76 million during the quarter, compared to analysts’ expectations of $790.14 million. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. On average, equities analysts forecast that SkyWest, Inc. will post $3.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. SkyWest’s dividend payout ratio (DPR) is presently -11.31%.
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SKYW has been the subject of a number of recent research reports. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, May 2nd. BidaskClub downgraded SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reissued an “outperform” rating and issued a $44.00 target price (up from $40.00) on shares of SkyWest in a research report on Monday, August 7th. Finally, TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $41.67.
SkyWest Company Profile
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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