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SkyWest (SKYW) Stock Drops Despite Market Gains: Important Facts to Note
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SkyWest (SKYW - Free Report) ended the recent trading session at $103.12, demonstrating a -1.07% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw an increase of 0.7%.
Shares of the regional airline have depreciated by 12.46% over the course of the past month, underperforming the Transportation sector's loss of 1.25%, and the S&P 500's gain of 4.03%.
Investors will be eagerly watching for the performance of SkyWest in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.56, marking a 18.52% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.01 billion, showing a 11.13% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.95 per share and a revenue of $4.01 billion, representing changes of +28.06% and +13.73%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications 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 business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 witnessed an unchanged state. As of now, SkyWest holds a Zacks Rank of #1 (Strong Buy).
With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 10.48. For comparison, its industry has an average Forward P/E of 10.38, which means SkyWest is trading at a premium to the group.
It is also worth noting that SKYW currently has a PEG ratio of 1.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Transportation - Airline was holding an average PEG ratio of 0.81 at yesterday's closing price.
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SkyWest (SKYW) Stock Drops Despite Market Gains: Important Facts to Note
SkyWest (SKYW - Free Report) ended the recent trading session at $103.12, demonstrating a -1.07% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw an increase of 0.7%.
Shares of the regional airline have depreciated by 12.46% over the course of the past month, underperforming the Transportation sector's loss of 1.25%, and the S&P 500's gain of 4.03%.
Investors will be eagerly watching for the performance of SkyWest in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.56, marking a 18.52% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.01 billion, showing a 11.13% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.95 per share and a revenue of $4.01 billion, representing changes of +28.06% and +13.73%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications 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 business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 witnessed an unchanged state. As of now, SkyWest holds a Zacks Rank of #1 (Strong Buy).
With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 10.48. For comparison, its industry has an average Forward P/E of 10.38, which means SkyWest is trading at a premium to the group.
It is also worth noting that SKYW currently has a PEG ratio of 1.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Transportation - Airline was holding an average PEG ratio of 0.81 at yesterday's closing price.
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.