SkyWest (SKYW) Increases Despite Market Slip: Here's What You Need to Know

In the latest trading session, SkyWest (SKYW) closed at $99.06, marking a +2.93% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.38%. Elsewhere, the Dow saw a downswing of 0.51%, while the tech-heavy Nasdaq depreciated by 0.29%.

The regional airline's shares have seen a decrease of 15.16% over the last month, not keeping up with the Transportation sector's loss of 3.4% and the S&P 500's gain of 2.08%.

Investors will be eagerly watching for the performance of SkyWest in its upcoming earnings disclosure. The company is expected to report EPS of $3.13, up 11.39% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.14 billion, indicating a 8.93% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.94 per share and a revenue of $4.36 billion, representing changes of +5.7% and +7.48%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWest. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 0.47% lower. SkyWest presently features a Zacks Rank of #3 (Hold).

In terms of valuation, SkyWest is currently trading at a Forward P/E ratio of 8.8. Its industry sports an average Forward P/E of 11.29, so one might conclude that SkyWest is trading at a discount comparatively.

We can also see that SKYW currently has a PEG ratio of 1.35. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. SKYW's industry had an average PEG ratio of 0.72 as of yesterday's close.

The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 198, positioning it in the bottom 20% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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