Sky Harbour Group (NYSE:SKYH) Issues Earnings Results

Key Points

• Sky Harbour Group missed quarterly earnings expectations: It reported a loss of $0.11 per share versus the consensus estimate of a $0.10 loss, while revenue of $8.36 million fell short of analysts’ $10.55 million forecast.
• Shares fell 2.9% to $10.57 on Tuesday. The stock traded above its 50- and 200-day moving averages, both near $9.80.
• Company insiders bought 13,950 shares worth about $139,568 over the past three months. Analysts’ average rating is “Moderate Buy,” with a consensus price target of $12.75.

Sky Harbour Group (NYSE:SKYH - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01), Zacks reports. The business had revenue of $8.36 million during the quarter, compared to analysts' expectations of $10.55 million. Sky Harbour Group had a net margin of 2.73% and a return on equity of 6.45%.

Sky Harbour Group Trading Down 2.9%

Shares of SKYH stock traded down $0.32 on Tuesday, reaching $10.57. 355,301 shares of the stock were exchanged, compared to its average volume of 158,912. The business's 50 day moving average price is $9.84 and its 200 day moving average price is $9.79. The company has a market capitalization of $810.22 million, a price-to-earnings ratio of -58.75 and a beta of 1.40. Sky Harbour Group has a twelve month low of $8.22 and a twelve month high of $11.70.

Insider Buying and Selling at Sky Harbour Group

In other Sky Harbour Group news, CFO Francisco Gonzalez purchased 3,850 shares of the business's stock in a transaction on Friday, October 2nd. The shares were bought at an average cost of $9.25 per share, for a total transaction of $35,612.50. Following the completion of the purchase, the chief financial officer directly owned 718,538 shares in the company, valued at approximately $6,646,476.50. This represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew Gessow purchased 5,000 shares of the business's stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $10.85 per share, for a total transaction of $54,250.00. Following the completion of the purchase, the director owned 22,910 shares of the company's stock, valued at $248,573.50. This represents a 27.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 13,950 shares of company stock worth $139,568 in the last three months. 40.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SKYH has been the topic of several analyst reports. Wall Street Zen upgraded Sky Harbour Group from a "strong sell" rating to a "sell" rating in a research note on Sunday, September 20th. BTIG Research reissued a "buy" rating and set a $13.00 target price on shares of Sky Harbour Group in a research note on Thursday, October 22nd. Weiss Ratings downgraded Sky Harbour Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 23rd. Finally, Roth Capital restated a "buy" rating and set a $12.50 price target on shares of Sky Harbour Group in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Sky Harbour Group has an average rating of "Moderate Buy" and a consensus target price of $12.75.

Sky Harbour Group Company Profile

Sky Harbour Group Corporation develops, owns and operates private aviation hangar campuses at airports in the United States. The company focuses on providing purpose-built infrastructure for business aircraft owners and operators, with facilities designed to support the storage, maintenance and operation of private aircraft. Its airport campuses generally include individual or multi-aircraft hangars, along with amenities such as pilot and crew lounges, office space, parking and other aviation-related services.

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