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SkyWest (SKYW) Registers a Bigger Fall Than the Market: Important Facts to Note
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SkyWest (SKYW - Free Report) closed the most recent trading day at $79.44, moving -0.4% from the previous trading session. This change lagged the S&P 500's 0.16% loss on the day. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw a decrease of 0.18%.
Shares of the regional airline have appreciated by 8.37% over the course of the past month, outperforming the Transportation sector's loss of 4.01% and the S&P 500's gain of 3.15%.
The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. In that report, analysts expect SkyWest to post earnings of $1.73 per share. This would mark year-over-year growth of 394.29%. Alongside, our most recent consensus estimate is anticipating revenue of $814.4 million, indicating a 12.23% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.83 per share and revenue of $3.36 billion, which would represent changes of +787.01% and +14.58%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for SkyWest. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.24% higher. Currently, SkyWest is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, SkyWest is presently trading at a Forward P/E ratio of 11.68. This represents a premium compared to its industry's average Forward P/E of 8.96.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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) Registers a Bigger Fall Than the Market: Important Facts to Note
SkyWest (SKYW - Free Report) closed the most recent trading day at $79.44, moving -0.4% from the previous trading session. This change lagged the S&P 500's 0.16% loss on the day. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw a decrease of 0.18%.
Shares of the regional airline have appreciated by 8.37% over the course of the past month, outperforming the Transportation sector's loss of 4.01% and the S&P 500's gain of 3.15%.
The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. In that report, analysts expect SkyWest to post earnings of $1.73 per share. This would mark year-over-year growth of 394.29%. Alongside, our most recent consensus estimate is anticipating revenue of $814.4 million, indicating a 12.23% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $6.83 per share and revenue of $3.36 billion, which would represent changes of +787.01% and +14.58%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for SkyWest. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.24% higher. Currently, SkyWest is carrying a Zacks Rank of #1 (Strong Buy).
Looking at valuation, SkyWest is presently trading at a Forward P/E ratio of 11.68. This represents a premium compared to its industry's average Forward P/E of 8.96.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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.