SKYW Stock Summary and Trading Ideas (Skywest | NASDAQ:SKYW)

SkyWest Inc offers commercial air services in the United States, Canada, Mexico, and the Caribbean. Additionally, it leases aircraft to capable users to help generate revenue. Generally, SkyWest provides regional flights, and utilizes its smaller, lower-cost aircraft to carry passengers that booked tickets through airlines. It partners with carriers across the world to fly and operate aircraft for a fee. SkyWest may use the carriers brand and ground support to coordinate marketing and easily transport passengers. The company has two reportable segments: SkyWest Airlines and SkyWest Leasing.

Skywest trades on the NASDAQ stock market under the symbol SKYW.

As of April 24, 2024, SKYW stock price declined to $71.35 with 730,156 million shares trading.

SKYW has a beta of 1.20, meaning it tends to be more sensitive to market movements. SKYW has a correlation of 0.16 to the broad based SPY ETF.

SKYW has a market cap of $2.88 billion. This is considered a Mid Cap stock.

Last quarter Skywest reported $752 million in Revenue and $.42 earnings per share. This fell short of revenue expectation by $-7 million and exceeded earnings estimates by $.27.

In the last 3 years, SKYW stock traded as high as $74.52 and as low as $14.76.

The top ETF exchange traded funds that SKYW belongs to (by Net Assets): IJR, CALF, VTI, IWM, VB.

SKYW has outperformed the market in the last year with a price return of +194.7% while the SPY ETF gained +24.2%. SKYW has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +39.8% and +2.7%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

SKYW support price is $72.58 and resistance is $76.05 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SKYW stock will trade within this expected range on the day.