Why SkyWest (SKYW) Dipped More Than Broader Market Today

Company Performance - SkyWest's shares increased by 3.39% over the last month, underperforming the Transportation sector's gain of 4.01% and outperforming the S&P 500's gain of 2.14% [1] - SkyWest is currently traded at a Forward P/E ratio of 12.33, indicating a premium compared to its industry's Forward P/E of 9.25 [5] - The company is scheduled to release its earnings on July 25, 2024, with a forecasted EPS of $1.73, reflecting a 394.29% increase from the same quarter last year [6] Earnings Estimates - The Zacks Consensus Estimates project earnings of $6.83 per share and revenue of $3.36 billion for the full year, showing changes of +787.01% and +14.58% respectively from the previous year [4] - The Zacks Consensus Estimate for revenue is projecting net sales of $814.4 million, up 12.23% from the year-ago period [6] - The Zacks Rank system indicates that SkyWest currently holds a Zacks Rank of 2 (Buy) [7] Industry Context - The Transportation - Airline industry ranks in the bottom 40% of all industries, with a current Zacks Industry Rank of 153 out of over 250 industries [11] - The Zacks Industry Rank shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [3]