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SkyWest (SKYW) Stock Drops Despite Market Gains: Important Facts to Note
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The most recent trading session ended with SkyWest (SKYW - Free Report) standing at $74.59, reflecting a -0.16% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.07%. On the other hand, the Dow registered a gain of 0.31%, and the technology-centric Nasdaq increased by 2.17%.
Coming into today, shares of the regional airline had gained 2.38% in the past month. In that same time, the Transportation sector gained 2.76%, while the S&P 500 gained 2.92%.
The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company's upcoming EPS is projected at $1.92, signifying a 249.09% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $887.48 million, showing a 15.83% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.88 per share and a revenue of $3.44 billion, indicating changes of +793.51% and +17.12%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SkyWest. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. SkyWest currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SkyWest has a Forward P/E ratio of 10.86 right now. Its industry sports an average Forward P/E of 9.62, so one might conclude that SkyWest is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 204, this industry ranks in the bottom 20% 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.
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 most recent trading session ended with SkyWest (SKYW - Free Report) standing at $74.59, reflecting a -0.16% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.07%. On the other hand, the Dow registered a gain of 0.31%, and the technology-centric Nasdaq increased by 2.17%.
Coming into today, shares of the regional airline had gained 2.38% in the past month. In that same time, the Transportation sector gained 2.76%, while the S&P 500 gained 2.92%.
The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company's upcoming EPS is projected at $1.92, signifying a 249.09% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $887.48 million, showing a 15.83% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.88 per share and a revenue of $3.44 billion, indicating changes of +793.51% and +17.12%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SkyWest. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. SkyWest currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SkyWest has a Forward P/E ratio of 10.86 right now. Its industry sports an average Forward P/E of 9.62, so one might conclude that SkyWest is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 204, this industry ranks in the bottom 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.