In the latest close session, SkyWest (SKYW) was down 1.29% at $96.43. The stock fell short of the S&P 500, which registered a gain of 0.73% for the day. At the same time, the Dow added 0.49%, and the tech-heavy Nasdaq gained 1.19%.
The regional airline's shares have seen an increase of 1.51% over the last month, surpassing the Transportation sector's loss of 3.02% and the S&P 500's gain of 0.55%.
Market participants will be closely following the financial results of SkyWest in its upcoming release. The company is predicted to post an EPS of $3.13, indicating a 11.39% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.14 billion, reflecting a 8.93% rise from the equivalent quarter last year.
SKYW's full-year Zacks Consensus Estimates are calling for earnings of $10.94 per share and revenue of $4.36 billion. These results would represent year-over-year changes of +5.7% and +7.48%, respectively.
Investors should also note any recent changes to analyst estimates for SkyWest. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, SkyWest holds a Zacks Rank of #3 (Hold).
In the context of valuation, SkyWest is at present trading with a Forward P/E ratio of 8.93. This represents a discount compared to its industry average Forward P/E of 11.57.
Meanwhile, SKYW's PEG ratio is currently 1.37. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Transportation - Airline industry was having an average PEG ratio of 0.92.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 232, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SkyWest, Inc. (SKYW): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).