SkyWest (SKYW) ended the recent trading session at $95.36, demonstrating a -4.98% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.57%. Meanwhile, the Dow experienced a drop of 1.61%, and the technology-dominated Nasdaq saw a decrease of 0.26%.
The stock of regional airline has fallen by 2.67% in the past month, lagging the Transportation sector's gain of 1.84% and the S&P 500's loss of 0.15%.
Market participants will be closely following the financial results of SkyWest in its upcoming release. The company is expected to report EPS of $2.19, down 9.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $982.63 million, up 3.6% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $11.42 per share and revenue of $4.33 billion, which would represent changes of +10.34% and +6.58%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for SkyWest. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. SkyWest is holding a Zacks Rank of #2 (Buy) right now.
From a valuation perspective, SkyWest is currently exchanging hands at a Forward P/E ratio of 8.79. This signifies a discount in comparison to the average Forward P/E of 8.82 for its industry.
We can additionally observe that SKYW currently boasts a PEG ratio of 0.67. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.51 based on yesterday's closing prices.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 22, this industry ranks in the top 9% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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