SkyWest, Inc. (NASDAQ:SKYW) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.12 per share by the transportation company on Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, June 27th.
SkyWest has increased its dividend payment by an average of 33.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. SkyWest has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SkyWest to earn $6.42 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 7.5%.
Shares of NASDAQ SKYW opened at $56.07 on Wednesday. SkyWest has a 1 year low of $42.38 and a 1 year high of $65.80. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 10.58 and a beta of 1.73. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.71 and a current ratio of 0.83. The stock’s 50-day simple moving average is $59.56.
In other news, Director Jerry C. Atkin sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $60.62, for a total transaction of $1,818,600.00. Following the completion of the transaction, the director now directly owns 656,232 shares in the company, valued at $39,780,783.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Russell A. Childs sold 19,170 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $60.99, for a total value of $1,169,178.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,389 shares of company stock valued at $9,763,340. Insiders own 3.60% of the company’s stock.
Several brokerages recently weighed in on SKYW. BidaskClub raised SkyWest from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. ValuEngine upgraded SkyWest from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th. Imperial Capital restated an “outperform” rating and issued a $74.00 target price (up from $69.00) on shares of SkyWest in a research note on Tuesday, April 30th. Finally, Stifel Nicolaus started coverage on SkyWest in a research note on Monday, April 15th. They issued a “buy” rating and a $68.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. SkyWest has a consensus rating of “Buy” and a consensus target price of $66.75.
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.
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