SkyWest (SKYW) Stock Sinks As Market Gains: What You Should Know

SkyWest (SKYW) ended the recent trading session at $109.42, demonstrating a -8.22% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 0.45%. Shares of the regional airline have appreciated by 7.59% over the course of the past month, outperforming the Transportation sector's gain of 2.21%, and the S&P 500's gain of 3.07%.The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company is expected to report EPS of $2.56, up 18.52% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $1.01 billion, indicating a 11.13% growth compared to the corresponding quarter of the prior year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.95 per share and revenue of $4.01 billion. These totals would mark changes of +28.06% and +13.73%, respectively, from last year. It's also important for investors to be aware of any recent modifications to analyst estimates for SkyWest. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. 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 past month, there's been no change in the Zacks Consensus EPS estimate. SkyWest currently has a Zacks Rank of #1 (Strong Buy). With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 11.98. This indicates a premium in contrast to its industry's Forward P/E of 10.81. It's also important to note that SKYW currently trades at a PEG ratio of 1.18. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Transportation - Airline industry currently had an average PEG ratio of 0.81 as of yesterday's close. The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SkyWest, Inc. (SKYW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks