SkyWest (SKYW) closed at $98.91 in the latest trading session, marking a +0.99% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.59%. On the other hand, the Dow registered a gain of 1.39%, and the technology-centric Nasdaq increased by 1.63%.
Shares of the regional airline have depreciated by 16.12% over the course of the past month, underperforming the Transportation sector's loss of 5.85% and the S&P 500's loss of 2.42%.
Investors will be eagerly watching for the performance of SkyWest in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.01, indicating a 38.62% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $926.38 million, up 15.28% from the year-ago period.
SKYW's full-year Zacks Consensus Estimates are calling for earnings of $9.01 per share and revenue of $3.82 billion. These results would represent year-over-year changes of +15.96% and +8.21%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for SkyWest. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 a 7.64% increase. SkyWest is currently a Zacks Rank #1 (Strong Buy).
Looking at valuation, SkyWest is presently trading at a Forward P/E ratio of 10.88. This signifies a premium in comparison to the average Forward P/E of 8.86 for its industry.
One should further note that SKYW currently holds 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. By the end of yesterday's trading, the Transportation - Airline industry had an average PEG ratio of 0.69.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 37, which puts it in the top 15% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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This article originally published on Zacks Investment Research (zacks.com).
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