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SkyWest (SKYW) Stock Drops Despite Market Gains: Important Facts to Note
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SkyWest (SKYW - Free Report) closed the most recent trading day at $104.51, moving -2.93% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.47% for the day. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq increased by 0.94%.
The stock of regional airline has fallen by 7.59% in the past month, lagging the Transportation sector's loss of 0.44% and the S&P 500's gain of 2.32%.
The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company's earnings per share (EPS) are projected to be $2.56, reflecting a 18.52% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.01 billion, indicating a 11.13% increase compared to the same quarter of the previous year.
SKYW's full-year Zacks Consensus Estimates are calling for earnings of $9.95 per share and revenue of $4.01 billion. These results would represent year-over-year changes of +28.06% and +13.73%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SkyWest. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, SkyWest boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, SkyWest is currently trading at a Forward P/E ratio of 10.82. This expresses a premium compared to the average Forward P/E of 10.47 of its industry.
One should further note that SKYW currently holds a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Transportation - Airline industry stood at 0.81 at the close of the market yesterday.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 55, placing it within the top 23% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SkyWest (SKYW) Stock Drops Despite Market Gains: Important Facts to Note
SkyWest (SKYW - Free Report) closed the most recent trading day at $104.51, moving -2.93% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.47% for the day. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq increased by 0.94%.
The stock of regional airline has fallen by 7.59% in the past month, lagging the Transportation sector's loss of 0.44% and the S&P 500's gain of 2.32%.
The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company's earnings per share (EPS) are projected to be $2.56, reflecting a 18.52% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.01 billion, indicating a 11.13% increase compared to the same quarter of the previous year.
SKYW's full-year Zacks Consensus Estimates are calling for earnings of $9.95 per share and revenue of $4.01 billion. These results would represent year-over-year changes of +28.06% and +13.73%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SkyWest. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, SkyWest boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, SkyWest is currently trading at a Forward P/E ratio of 10.82. This expresses a premium compared to the average Forward P/E of 10.47 of its industry.
One should further note that SKYW currently holds a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Transportation - Airline industry stood at 0.81 at the close of the market yesterday.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 55, placing it within the top 23% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.