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SkyWest (SKYW) Outperforms Broader Market: What You Need to Know
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SkyWest (SKYW - Free Report) closed at $93.70 in the latest trading session, marking a +2.04% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.72%. At the same time, the Dow added 0.48%, and the tech-heavy Nasdaq gained 1.16%.
Heading into today, shares of the regional airline had lost 8.85% over the past month, lagging the Transportation sector's loss of 8.63% and the S&P 500's loss of 4.99%.
The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company is predicted to post an EPS of $2.17, indicating a 10.33% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $982.63 million, indicating a 3.6% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.3 per share and a revenue of $4.33 billion, representing changes of +9.18% and +6.58%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for SkyWest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business 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, 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. The Zacks Consensus EPS estimate has moved 1.02% lower within the past month. As of now, SkyWest holds a Zacks Rank of #3 (Hold).
In terms of valuation, SkyWest is currently trading at a Forward P/E ratio of 8.13. This signifies no noticeable deviation in comparison to the average Forward P/E of 8.13 for its industry.
It is also worth noting that SKYW currently has a PEG ratio of 1.25. 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 Transportation - Airline was holding an average PEG ratio of 0.43 at yesterday's closing price.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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SkyWest (SKYW) Outperforms Broader Market: What You Need to Know
SkyWest (SKYW - Free Report) closed at $93.70 in the latest trading session, marking a +2.04% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.72%. At the same time, the Dow added 0.48%, and the tech-heavy Nasdaq gained 1.16%.
Heading into today, shares of the regional airline had lost 8.85% over the past month, lagging the Transportation sector's loss of 8.63% and the S&P 500's loss of 4.99%.
The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company is predicted to post an EPS of $2.17, indicating a 10.33% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $982.63 million, indicating a 3.6% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.3 per share and a revenue of $4.33 billion, representing changes of +9.18% and +6.58%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for SkyWest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business 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, 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. The Zacks Consensus EPS estimate has moved 1.02% lower within the past month. As of now, SkyWest holds a Zacks Rank of #3 (Hold).
In terms of valuation, SkyWest is currently trading at a Forward P/E ratio of 8.13. This signifies no noticeable deviation in comparison to the average Forward P/E of 8.13 for its industry.
It is also worth noting that SKYW currently has a PEG ratio of 1.25. 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 Transportation - Airline was holding an average PEG ratio of 0.43 at yesterday's closing price.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 41% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.