SkyWest (SKYW) closed the most recent trading day at $101.90, moving -1.56% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 1.16%. Meanwhile, the Dow experienced a drop of 0.47%, and the technology-dominated Nasdaq saw a decrease of 1.81%.
Shares of the regional airline have appreciated by 10.51% over the course of the past month, outperforming the Transportation sector's gain of 7.7%, and the S&P 500's gain of 1.03%.
Market participants will be closely following the financial results of SkyWest in its upcoming release. The company is predicted to post an EPS of $2.26, indicating a 3.42% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $987.87 million, indicating a 4.6% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.1 per share and a revenue of $4.02 billion, signifying shifts of +29.99% and +13.98%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWest. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.28% lower. Currently, SkyWest is carrying a Zacks Rank of #3 (Hold).
Investors should also note SkyWest's current valuation metrics, including its Forward P/E ratio of 10.25. This indicates a discount in contrast to its industry's Forward P/E of 12.15.
Meanwhile, SKYW's PEG ratio is currently 0.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. SKYW's industry had an average PEG ratio of 0.85 as of yesterday's close.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 143, this industry ranks in the bottom 43% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SkyWest, Inc. (SKYW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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