The most recent trading session ended with SkyWest (SKYW) standing at $100.84, reflecting a +0.19% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.53% loss on the day. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.83%.
Shares of the regional airline witnessed a gain of 3.74% over the previous month, trailing the performance of the Transportation sector with its gain of 4.87% and the S&P 500's gain of 5.17%.
Market participants will be closely following the financial results of SkyWest in its upcoming release. The company's upcoming EPS is projected at $2.31, signifying a 26.92% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $977.68 million, showing a 12.75% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.28 per share and a revenue of $3.9 billion, signifying shifts of +19.43% and +10.51%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for SkyWest. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SkyWest is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, SkyWest is holding a Forward P/E ratio of 10.85. This indicates a premium in contrast to its industry's Forward P/E of 9.35.
We can additionally observe that SKYW currently boasts a PEG ratio of 1.24. 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 0.9 based on yesterday's closing prices.
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 170, finds itself in the bottom 31% echelons of all 250+ industries.
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.
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SkyWest, Inc. (SKYW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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