SkyWest (SKYW) Surpasses Market Returns: Some Facts Worth Knowing

SkyWest (SKYW) ended the recent trading session at $88.09, demonstrating a +0.82% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.38%. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw an increase of 0.87%.The regional airline's stock has dropped by 9.41% in the past month, falling short of the Transportation sector's loss of 7.25% and the S&P 500's loss of 5.59%.Market participants will be closely following the financial results of SkyWest in its upcoming release. The company is forecasted to report an EPS of $2.01, showcasing a 38.62% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $926.38 million, up 15.28% from the year-ago period.SKYW's full-year Zacks Consensus Estimates are calling for earnings of $9.01 per share and revenue of $3.82 billion. These results would represent year-over-year changes of +15.96% and +8.21%, respectively.Any recent changes to analyst estimates for SkyWest should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SkyWest is currently sporting a Zacks Rank of #1 (Strong Buy).Valuation is also important, so investors should note that SkyWest has a Forward P/E ratio of 9.7 right now. Its industry sports an average Forward P/E of 8.25, so one might conclude that SkyWest is trading at a premium comparatively.It is also worth noting that SKYW currently has a PEG ratio of 1.11. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.64 based on yesterday's closing prices.The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 50, finds itself in the top 21% echelons of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want 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