SkyWest (SKYW) closed the most recent trading day at $103.53, moving +2.3% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.64%. Elsewhere, the Dow saw an upswing of 1.23%, while the tech-heavy Nasdaq appreciated by 0.69%.
The stock of regional airline has fallen by 2.13% in the past month, lagging the Transportation sector's gain of 4.41% and the S&P 500's gain of 0.55%.
Market participants will be closely following the financial results of SkyWest in its upcoming release. The company's earnings per share (EPS) are projected to be $2.25, reflecting a 3.85% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $986.87 million, up 4.5% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $10.09 per share and revenue of $4.02 billion, which would represent changes of +29.86% and 0%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SkyWest. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. SkyWest presently features a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that SkyWest has a Forward P/E ratio of 9.14 right now. This expresses a discount compared to the average Forward P/E of 9.3 of its industry.
It's also important to note that SKYW currently trades at a PEG ratio of 0.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Transportation - Airline was holding an average PEG ratio of 0.6 at yesterday's closing price.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 103, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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SkyWest, Inc. (SKYW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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