SkyWest (SKYW) Outperforms Broader Market: What You Need to Know

In the latest market close, SkyWest (SKYW) reached $116.06, with a +1.1% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.61%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 1.28%.Prior to today's trading, shares of the regional airline had gained 11.1% over the past month. This has outpaced the Transportation sector's gain of 4.09% and the S&P 500's gain of 2.08% in that time.Investors will be eagerly watching for the performance of SkyWest in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 30, 2025. On that day, SkyWest is projected to report earnings of $1.77 per share, which would represent year-over-year growth of 321.43%. Alongside, our most recent consensus estimate is anticipating revenue of $903.97 million, indicating a 20.24% upward movement from the same quarter last year.Any recent changes to analyst estimates for SkyWest should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.2% higher within the past month. At present, SkyWest boasts a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that SkyWest has a Forward P/E ratio of 13.72 right now. This denotes a premium relative to the industry's average Forward P/E of 9.36.The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% 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.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks