Yahoo Finance SkyWest (SKYW) Laps the Stock Market: Here's Why
SkyWest (SKYW) closed at $81.85 in the latest trading session, marking a +1.54% move from the prior day. This change outpaced the S&P 500's 0.09% gain on the day. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.3%.
Shares of the regional airline witnessed a gain of 11.25% over the previous month, beating the performance of the Transportation sector with its loss of 1.91% and the S&P 500's gain of 3.38%.
The investment community will be closely monitoring the performance of SkyWest in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.73, marking a 394.29% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $814.4 million, reflecting a 12.23% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.83 per share and a revenue of $3.36 billion, signifying shifts of +787.01% and +14.58%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWest. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.24% higher. Currently, SkyWest is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, SkyWest is presently being traded at a Forward P/E ratio of 11.81. This denotes a premium relative to the industry's average Forward P/E of 8.97.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% 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.
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SkyWest, Inc. (SKYW) : Free Stock Analysis Report
