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Bull of the Day: SkyWest (SKYW)

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The risk-on feeling in the market is palpable. You can see it everywhere from the small caps to Bitcoin. If you’re feeling some FOMO, it’s perfectly natural. Itching to pull the trigger on your next idea? While it can seem like everything is going up forever, we all know that’s simply not the case. Protect yourself over the long run by investing in stocks with strong earnings trends. These sorts of trends last much longer than a move in the stock’s price. Earnings are your best friend when evaluating long-term investments.

One way to uncover these stocks is by leaning on the tried-and-true Zacks Rank. Stocks in the good graces of our Zacks Rank like today’s Bull of the Day, SkyWest ((SKYW - Free Report) ). SkyWest, Inc., through its subsidiaries, engages in the operation of a regional airline in the United States. It operates through two segment, SkyWest Airlines and SWC; and SkyWest Leasing. The company is also involved in leasing regional jet aircraft and spare engines to third parties; and provision of on-demand charter, airport customer, and ground handling services. As of December 31, 2023, its fleet consisted of 603 aircraft; and provided scheduled passenger and air freight services with approximately 1,850 total daily departures to various destinations in the United States, Canada, and Mexico.

Zacks Investment Research
Image Source: Zacks Investment Research

The stock is currently a Zacks Rank #1 (Strong Buy). The reason for the favorable rank is that three analysts have increased their earnings estimates for the current year and next year over the last thirty days. This is a direct response to SkyWest beating earnings estimates by 31 cents or 281%. The bullish move has pushed up our Zacks Consensus Estimate for the current year from $5.02 to $5.58 while next year’s number is up from $5.48 to $6.34.

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