Back to top

Image: Bigstock

SkyWest (SKYW) Registers a Bigger Fall Than the Market: Important Facts to Note

Read MoreHide Full Article

SkyWest (SKYW - Free Report) ended the recent trading session at $83.51, demonstrating a -1.44% swing from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.04%.

Prior to today's trading, shares of the regional airline had gained 13.22% over the past month. This has outpaced the Transportation sector's gain of 0.35% and the S&P 500's gain of 1.25% in that time.

Analysts and investors alike will be keeping a close eye on the performance of SkyWest in its upcoming earnings disclosure. In that report, analysts expect SkyWest to post earnings of $1.92 per share. This would mark year-over-year growth of 249.09%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $887.48 million, up 15.83% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $6.88 per share and revenue of $3.44 billion, which would represent changes of +793.51% and +17.12%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for SkyWest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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 remained unchanged. Currently, SkyWest is carrying a Zacks Rank of #3 (Hold).

With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 12.31. This expresses a premium compared to the average Forward P/E of 10.23 of its industry.

The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 146, finds itself in the bottom 43% echelons 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


SkyWest, Inc. (SKYW) - free report >>

Published in