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Why SkyWest (SKYW) Dipped More Than Broader Market Today
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SkyWest (SKYW - Free Report) closed the most recent trading day at $82.54, moving -1.95% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.78%. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
The regional airline's shares have seen an increase of 3.39% over the last month, not keeping up with the Transportation sector's gain of 4.01% and outstripping the S&P 500's gain of 2.14%.
The investment community will be closely monitoring the performance of SkyWest in its forthcoming earnings report. The company is scheduled to release its earnings on July 25, 2024. The company is forecasted to report an EPS of $1.73, showcasing a 394.29% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $814.4 million, up 12.23% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.83 per share and a revenue of $3.36 billion, demonstrating changes of +787.01% and +14.58%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWest. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SkyWest is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 12.33. This indicates a premium in contrast to its industry's Forward P/E of 9.25.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 40% of all industries, numbering over 250.
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.
To follow SKYW in the coming trading sessions, be sure to utilize Zacks.com.
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Why SkyWest (SKYW) Dipped More Than Broader Market Today
SkyWest (SKYW - Free Report) closed the most recent trading day at $82.54, moving -1.95% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.78%. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
The regional airline's shares have seen an increase of 3.39% over the last month, not keeping up with the Transportation sector's gain of 4.01% and outstripping the S&P 500's gain of 2.14%.
The investment community will be closely monitoring the performance of SkyWest in its forthcoming earnings report. The company is scheduled to release its earnings on July 25, 2024. The company is forecasted to report an EPS of $1.73, showcasing a 394.29% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $814.4 million, up 12.23% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $6.83 per share and a revenue of $3.36 billion, demonstrating changes of +787.01% and +14.58%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWest. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SkyWest is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 12.33. This indicates a premium in contrast to its industry's Forward P/E of 9.25.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 40% of all industries, numbering over 250.
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.
To follow SKYW in the coming trading sessions, be sure to utilize Zacks.com.