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SkyWest (SKYW) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw SkyWest (SKYW - Free Report) ending at $75.96, denoting a -0.08% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.27%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 0.88%.
Prior to today's trading, shares of the regional airline had lost 0.29% over the past month. This has was narrower than the Transportation sector's loss of 3.57% and lagged the S&P 500's gain of 2.85% in that time.
The investment community will be closely monitoring the performance of SkyWest in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.70, marking a 385.71% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $814.4 million, indicating a 12.23% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.83 per share and revenue of $3.36 billion. These totals would mark changes of +787.01% and +14.58%, respectively, from last year.
Any recent changes to analyst estimates for SkyWest should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 a 0.24% increase. SkyWest presently features a Zacks Rank of #1 (Strong Buy).
With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 11.14. Its industry sports an average Forward P/E of 8.94, so one might conclude that SkyWest is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 171, positioning it in the bottom 33% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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SkyWest (SKYW) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw SkyWest (SKYW - Free Report) ending at $75.96, denoting a -0.08% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.27%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 0.88%.
Prior to today's trading, shares of the regional airline had lost 0.29% over the past month. This has was narrower than the Transportation sector's loss of 3.57% and lagged the S&P 500's gain of 2.85% in that time.
The investment community will be closely monitoring the performance of SkyWest in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.70, marking a 385.71% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $814.4 million, indicating a 12.23% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.83 per share and revenue of $3.36 billion. These totals would mark changes of +787.01% and +14.58%, respectively, from last year.
Any recent changes to analyst estimates for SkyWest should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 a 0.24% increase. SkyWest presently features a Zacks Rank of #1 (Strong Buy).
With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 11.14. Its industry sports an average Forward P/E of 8.94, so one might conclude that SkyWest is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 171, positioning it in the bottom 33% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.