SkyWest (SKYW) ended the recent trading session at $95.93, demonstrating a -1.18% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.45%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.78%.
Prior to today's trading, shares of the regional airline had lost 8.07% lagged the Transportation sector's loss of 4.89% and the S&P 500's loss of 1.99%.
The investment community will be closely monitoring the performance of SkyWest in its forthcoming earnings report. In that report, analysts expect SkyWest to post earnings of $3.13 per share. This would mark year-over-year growth of 11.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.14 billion, up 8.93% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.94 per share and a revenue of $4.36 billion, demonstrating changes of +5.7% and +7.48%, respectively, from the preceding year.
Investors might also notice recent changes to 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 business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, there's been a 0.47% fall in the Zacks Consensus EPS estimate. As of now, SkyWest holds a Zacks Rank of #3 (Hold).
Investors should also note SkyWest's current valuation metrics, including its Forward P/E ratio of 8.87. This signifies a discount in comparison to the average Forward P/E of 11.06 for its industry.
It's also important to note that SKYW currently trades at a PEG ratio of 1.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Transportation - Airline industry held an average PEG ratio of 0.88.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 216, this industry ranks in the bottom 13% of all industries, numbering over 250.
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.
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
This article originally published on Zacks Investment Research (zacks.com).