SkyWest (SKYW) closed at $78.87 in the latest trading session, marking a -0.94% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.2%.

Shares of the regional airline witnessed a gain of 7.7% over the previous month, beating the performance of the Transportation sector with its gain of 3.7% and the S&P 500's gain of 1.54%.

The investment community will be paying close attention to the earnings performance of SkyWest in its upcoming release. The company is expected to report EPS of $1.92, up 249.09% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $887.48 million, showing a 15.83% escalation compared to the year-ago quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.88 per share and a revenue of $3.44 billion, indicating changes of +793.51% and +17.12%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for SkyWest. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, SkyWest boasts a Zacks Rank of #3 (Hold).

Looking at valuation, SkyWest is presently trading at a Forward P/E ratio of 11.57. For comparison, its industry has an average Forward P/E of 10.06, which means SkyWest is trading at a premium to the group.

The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 27% 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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