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SkyWest (SKYW) closed the latest trading day at $83.60, indicating a -0.18% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.08%, and the technology-centric Nasdaq decreased by 1.95%.

The regional airline's stock has climbed by 5.45% in the past month, exceeding the Transportation sector's loss of 2.02% and the S&P 500's gain of 5.11%.

The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company is slated to reveal its earnings on July 25, 2024. The company is expected to report EPS of $1.73, up 394.29% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $814.4 million, showing a 12.23% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.83 per share and revenue of $3.36 billion, indicating changes of +787.01% and +14.58%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for SkyWest. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, SkyWest possesses a Zacks Rank of #1 (Strong Buy).

With respect to valuation, SkyWest is currently being traded at a Forward P/E ratio of 12.27. This indicates a premium in contrast to its industry's Forward P/E of 9.05.

The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning it in the top 29% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.

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