In the latest trading session, SkyWest (SKYW - Free Report) closed at $58.70, marking a -0.88% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.32%. At the same time, the Dow lost 1.41%, and the tech-heavy Nasdaq lost 1.51%.
Prior to today's trading, shares of the regional airline had lost 1.55% over the past month. This has was narrower than the Transportation sector's loss of 7.34% and the S&P 500's loss of 5.09% in that time.
SKYW will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.59, up 11.19% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $732.97 million, down 9.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.09 per share and revenue of $2.94 billion. These totals would mark changes of +14.91% and -8.88%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SKYW. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate remained stagnant. SKYW currently has a Zacks Rank of #2 (Buy).
Investors should also note SKYW's current valuation metrics, including its Forward P/E ratio of 9.72. Its industry sports an average Forward P/E of 9.64, so we one might conclude that SKYW is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks 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.