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

SkyWest (NASDAQ:SKYW) released its earnings results on Thursday. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24, Briefing.com reports. The firm had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a return on equity of 11.20% and a net margin of 7.29%. SkyWest’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS.

SkyWest Stock Up 6.4 %

Shares of NASDAQ:SKYW opened at $101.33 on Friday. The company has a market capitalization of $4.06 billion, a P/E ratio of 17.32 and a beta of 1.93. The stock’s fifty day simple moving average is $84.84 and its 200-day simple moving average is $79.88. SkyWest has a 52-week low of $41.96 and a 52-week high of $103.49. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.02.

Analyst Ratings Changes

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

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.