SkyWest (SKYW) ended the recent trading session at $101.80, demonstrating a -0.57% swing from the preceding day's closing price. This change lagged the S&P 500's 1.09% gain on the day. Elsewhere, the Dow saw an upswing of 1.18%, while the tech-heavy Nasdaq appreciated by 1.03%.
Prior to today's trading, shares of the regional airline had lost 6.55% over the past month. This has lagged the Transportation sector's loss of 5.95% and the S&P 500's loss of 0.71% in that time.
Analysts and investors alike will be keeping a close eye on the performance of SkyWest in its upcoming earnings disclosure. In that report, analysts expect SkyWest to post earnings of $1.77 per share. This would mark year-over-year growth of 321.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $901.47 million, up 19.91% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $7.16 per share and a revenue of $3.48 billion, demonstrating changes of +829.87% and +18.71%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SkyWest. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% upward. As of now, SkyWest holds a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, SkyWest is holding a Forward P/E ratio of 14.29. This signifies a premium in comparison to the average Forward P/E of 10 for its industry.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 29, placing it within the top 12% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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