SkyWest Stock: Post Q3 2024 Earnings Analysis (Rating Downgrade)

David Zanoni
11.09K Followers
(8min)

Summary

  • There are multiple positives from SkyWest's Q3 2024 earnings report.
  • SkyWest's valuation remains attractive as compared to the broader market.
  • SkyWest's has been making strong margin gains as it returns to pre-pandemic production levels.
  • However, the stock is overbought according to a key indicator, so profit taking might be wise here.
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SkyWest (NASDAQ:SKYW) looks strong after the Q3 earnings report. The company is growing revenue and earnings at a strong pace as production has been increasing. The valuation remains attractive which leaves sufficient room for the stock to make strong gains

This article was written by

11.09K Followers
David focuses on growth & momentum stocks that are reasonably priced and likely to outperform the market over the long-term. He is a long term investor of quality stocks and uses options for strategy. David told investors to buy in March 2009 at the bottom of the financial crisis. The S&P 500 increased 367% and the Nasdaq increased 685% from 2009 through 2019. He wants to help make people money by investing in high-quality growth stocks.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

The article is for informational purposes only (not a solicitation or recommendation to buy or sell stocks). David is not a registered investment adviser. Investors should do their own research or consult a financial adviser to determine what investments are appropriate for their individual situation. This article expresses my opinions and I cannot guarantee that the information/results will be accurate. Investing in stocks involves risk and could result in losses.

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