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The NASDAQ Composite has been ticking up to new all-time highs nearly every day. It can make it feel like the only way to make money is to chase some of these big names that have been printing money for investors. Some of those trades are getting really crowded though. You don’t want to be the last one in when everyone else heads for the exits.
There are plenty of stocks out there that have been reaching cruising altitude, with strong underlying earnings trends as well. One of them is today’s Bull of the Day, SkyWest (SKYW - Free Report) . SkyWest engages in the operation of a regional airline in the United States. It operates through two segments, SkyWest Airlines and SWC; and SkyWest Leasing. The company is also involved in leasing regional jet aircraft and spare engines to third parties; and provision of on-demand charter, airport customer, and ground handling services. As of December 31, 2023, its fleet consisted of 603 aircraft; and provided scheduled passenger and air freight services with approximately 1,850 total daily departures to various destinations in the United States, Canada, and Mexico.
The stock is currently a Zacks Rank #1 (Strong Buy). The reason for the favorable Zacks Rank is that analysts on Wall Street have been increasing their estimates for the company recently. Over the last sixty days, we have seen our Zacks Consensus Estimate for the current year jump from $6.39 to $6.83 while next year’s number is up from $7.45 to $8.00.
Image Source: Zacks Investment Research
Those estimates are forecasting some serious growth. The current year EPS numbers now call for an incredible jump over last year’s meager 77 cents EPS. Next year’s number is slated for 17% growth. That’s not due to a bunch of financial engineering either. Revenue growth is forecast at 14.58% this year and 9.86% next year. That means the stock is trading at 1.08x sales this year and a forward P/E of just 12x. Compare that to the S&P 500’s 22.5x.
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Bull of the Day: SkyWest (SKYW)
The NASDAQ Composite has been ticking up to new all-time highs nearly every day. It can make it feel like the only way to make money is to chase some of these big names that have been printing money for investors. Some of those trades are getting really crowded though. You don’t want to be the last one in when everyone else heads for the exits.
There are plenty of stocks out there that have been reaching cruising altitude, with strong underlying earnings trends as well. One of them is today’s Bull of the Day, SkyWest (SKYW - Free Report) . SkyWest engages in the operation of a regional airline in the United States. It operates through two segments, SkyWest Airlines and SWC; and SkyWest Leasing. The company is also involved in leasing regional jet aircraft and spare engines to third parties; and provision of on-demand charter, airport customer, and ground handling services. As of December 31, 2023, its fleet consisted of 603 aircraft; and provided scheduled passenger and air freight services with approximately 1,850 total daily departures to various destinations in the United States, Canada, and Mexico.
The stock is currently a Zacks Rank #1 (Strong Buy). The reason for the favorable Zacks Rank is that analysts on Wall Street have been increasing their estimates for the company recently. Over the last sixty days, we have seen our Zacks Consensus Estimate for the current year jump from $6.39 to $6.83 while next year’s number is up from $7.45 to $8.00.
Image Source: Zacks Investment Research
Those estimates are forecasting some serious growth. The current year EPS numbers now call for an incredible jump over last year’s meager 77 cents EPS. Next year’s number is slated for 17% growth. That’s not due to a bunch of financial engineering either. Revenue growth is forecast at 14.58% this year and 9.86% next year. That means the stock is trading at 1.08x sales this year and a forward P/E of just 12x. Compare that to the S&P 500’s 22.5x.