We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Chewy (CHWY) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Chewy (CHWY - Free Report) closed at $27.49 in the latest trading session, marking a -0.54% move from the prior day. This change lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Heading into today, shares of the online pet store had lost 21.41% over the past month, lagging the Consumer Staples sector's loss of 2.56% and the S&P 500's loss of 3.25% in that time.
Wall Street will be looking for positivity from Chewy as it approaches its next earnings report date. This is expected to be August 30, 2023. In that report, analysts expect Chewy to post earnings of $0.11 per share. This would mark year-over-year growth of 120%. Our most recent consensus estimate is calling for quarterly revenue of $2.76 billion, up 13.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.56 per share and revenue of $11.32 billion, which would represent changes of +5.66% and +12.06%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Chewy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 175% higher. Chewy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Chewy is holding a Forward P/E ratio of 49.53. For comparison, its industry has an average Forward P/E of 20.95, which means Chewy is trading at a premium to the group.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Chewy (CHWY) Dips More Than Broader Markets: What You Should Know
Chewy (CHWY - Free Report) closed at $27.49 in the latest trading session, marking a -0.54% move from the prior day. This change lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Heading into today, shares of the online pet store had lost 21.41% over the past month, lagging the Consumer Staples sector's loss of 2.56% and the S&P 500's loss of 3.25% in that time.
Wall Street will be looking for positivity from Chewy as it approaches its next earnings report date. This is expected to be August 30, 2023. In that report, analysts expect Chewy to post earnings of $0.11 per share. This would mark year-over-year growth of 120%. Our most recent consensus estimate is calling for quarterly revenue of $2.76 billion, up 13.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.56 per share and revenue of $11.32 billion, which would represent changes of +5.66% and +12.06%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Chewy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 175% higher. Chewy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Chewy is holding a Forward P/E ratio of 49.53. For comparison, its industry has an average Forward P/E of 20.95, which means Chewy is trading at a premium to the group.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.