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SkyWest Inc (NASDAQ:SKYW) shares are trading lower by 2.4% to $81.73 during Thursday’s session. Shares of airline stocks are trading lower in sympathy with Delta Air Lines, Inc. (NYSE:DAL), which fell after reporting mixed second-quarter earnings.
SkyWest operates a substantial number of regional flights for Delta, using aircraft branded with Delta's livery. These flights are typically shorter routes that feed into Delta's larger network, allowing Delta to serve smaller markets efficiently.
When Delta's stock falls due to mixed earnings, broader industry challenges or operational issues, investors might anticipate that these issues will trickle down to its regional partners like SkyWest. This perceived risk can lead to a decline in SkyWest's stock price as well.
An investor or trader's decision to buy or sell a stock is unique to their time horizon and risk tolerance. Many typical investors evaluate earnings growth and valuation on a particular stock before making a decision.
For example, for SkyWest, you'll notice that earnings in its last quarter grew 17.89%. As an investor, you'll want to decide whether that's better or worse than what you'd like to see among stocks in your portfolio.
On the valuation side, SkyWest's price to earnings ratio – a measure of how much an investor pays for the company's earnings – is projected to compress 68.42% in the current quarter when compared with last year. That places it above similar businesses Delta Air Lines, Ryanair Hldgs, Southwest Airlines in its sector. You'll need to decide whether that makes it more or less attractive based on how you think the company will perform over time.
There are many different valuation metrics that may help you make a decision. Find more on SkyWest's quote page, or if you'd like a deeper dive in an advanced program, try Benzinga PRO for free.
According to data from Benzinga Pro, SKYW has a 52-week high of $84.68 and a 52-week low of $36.91.
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