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SkyWest (SKYW) closed at $101.45 in the latest trading session, marking a -0.88% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.01%. Meanwhile, the Dow experienced a rise of 0.13%, and the technology-dominated Nasdaq saw a decrease of 0.32%.
Shares of the regional airline witnessed a gain of 13.49% over the previous month, beating the performance of the Transportation sector with its gain of 8.43% and the S&P 500's gain of 6.43%.
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Analysts and investors alike will be keeping a close eye on the performance of SkyWest in its upcoming earnings disclosure. On that day, SkyWest is projected to report earnings of $2.31 per share, which would represent year-over-year growth of 26.92%. At the same time, our most recent consensus estimate is projecting a revenue of $977.68 million, reflecting a 12.75% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.28 per share and a revenue of $3.9 billion, representing changes of +19.43% and +10.51%, respectively, from the prior 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 company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. SkyWest is currently a Zacks Rank #2 (Buy).
With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 11.03. This represents a premium compared to its industry's average Forward P/E of 9.33.
Also, we should mention that SKYW has a PEG ratio of 1.26. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Transportation - Airline was holding an average PEG ratio of 0.89 at yesterday's closing price.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 41% of all 250+ industries.