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SkyWest (SKYW) Registers a Bigger Fall Than the Market: Important Facts to Note
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The latest trading session saw SkyWest (SKYW - Free Report) ending at $95.58, denoting a -0.22% adjustment from its last day's close. This change lagged the S&P 500's 0.18% loss on the day. Meanwhile, the Dow experienced a drop of 0.8%, and the technology-dominated Nasdaq saw an increase of 0.27%.
Shares of the regional airline have appreciated by 16.97% over the course of the past month, outperforming the Transportation sector's gain of 1.17% and the S&P 500's gain of 4.46%.
Market participants will be closely following the financial results of SkyWest in its upcoming release. The company plans to announce its earnings on October 31, 2024. The company is expected to report EPS of $1.92, up 249.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $887.48 million, up 15.83% from the prior-year quarter.
SKYW's full-year Zacks Consensus Estimates are calling for earnings of $6.88 per share and revenue of $3.44 billion. These results would represent year-over-year changes of +793.51% and +17.12%, respectively.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 witnessed an unchanged state. SkyWest is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SkyWest has a Forward P/E ratio of 13.92 right now. Its industry sports an average Forward P/E of 10.71, so one might conclude that SkyWest is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% echelons 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.
To follow SKYW in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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SkyWest (SKYW) Registers a Bigger Fall Than the Market: Important Facts to Note
The latest trading session saw SkyWest (SKYW - Free Report) ending at $95.58, denoting a -0.22% adjustment from its last day's close. This change lagged the S&P 500's 0.18% loss on the day. Meanwhile, the Dow experienced a drop of 0.8%, and the technology-dominated Nasdaq saw an increase of 0.27%.
Shares of the regional airline have appreciated by 16.97% over the course of the past month, outperforming the Transportation sector's gain of 1.17% and the S&P 500's gain of 4.46%.
Market participants will be closely following the financial results of SkyWest in its upcoming release. The company plans to announce its earnings on October 31, 2024. The company is expected to report EPS of $1.92, up 249.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $887.48 million, up 15.83% from the prior-year quarter.
SKYW's full-year Zacks Consensus Estimates are calling for earnings of $6.88 per share and revenue of $3.44 billion. These results would represent year-over-year changes of +793.51% and +17.12%, respectively.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 witnessed an unchanged state. SkyWest is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SkyWest has a Forward P/E ratio of 13.92 right now. Its industry sports an average Forward P/E of 10.71, so one might conclude that SkyWest is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% echelons 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.
To follow SKYW in the coming trading sessions, be sure to utilize Zacks.com.