The most recent trading session ended with SkyWest (SKYW) standing at $101.08, reflecting a +0.95% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.16%.

The regional airline's stock has dropped by 11.65% in the past month, falling short of the Transportation sector's loss of 7.75% and the S&P 500's loss of 2.36%.

Investors will be eagerly watching for the performance of SkyWest in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.77, indicating a 321.43% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $903.97 million, reflecting a 20.24% rise from the equivalent quarter last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.21% higher. SkyWest is holding a Zacks Rank of #1 (Strong Buy) right now.

Digging into valuation, SkyWest currently has a Forward P/E ratio of 11.97. This represents a premium compared to its industry's average Forward P/E of 9.12.

The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 15, this industry ranks in the top 6% 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

SkyWest, Inc. (SKYW) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research