The most recent trading session ended with SkyWest (SKYW) standing at $100.84, reflecting a +0.19% shift from the previouse trading day’s closing. This change outpaced the S&P 500’s 0.53% loss on the day. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.83%.
Shares of the regional airline witnessed a gain of 3.74% over the previous month, trailing the performance of the Transportation sector with its gain of 4.87% and the S&P 500’s gain of 5.17%.
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Market participants will be closely following the financial results of SkyWest in its upcoming release. The company’s upcoming EPS is projected at $2.31, signifying a 26.92% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $977.68 million, showing a 12.75% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.28 per share and a revenue of $3.9 billion, signifying shifts of +19.43% and +10.51%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for SkyWest. Such recent modifications usually signify the changing landscape 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SkyWest is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, SkyWest is holding a Forward P/E ratio of 10.85. This indicates a premium in contrast to its industry’s Forward P/E of 9.35.
We can additionally observe that SKYW currently boasts a PEG ratio of 1.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. Transportation – Airline stocks are, on average, holding a PEG ratio of 0.9 based on yesterday’s closing prices.
The Transportation – Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 170, finds itself in the bottom 31% echelons of all 250+ industries.