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Chewy (CHWY) Dips More Than Broader Markets: What You Should Know
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Chewy (CHWY - Free Report) closed the most recent trading day at $25.76, moving -1.6% from the previous trading session. This change lagged the S&P 500's daily loss of 1.35%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.87%.
Prior to today's trading, shares of the online pet store had lost 21.94% over the past month. This has lagged the Consumer Staples sector's loss of 3.72% and the S&P 500's loss of 2.06% 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. On that day, Chewy is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 120%. Meanwhile, our latest consensus estimate is calling for revenue of $2.76 billion, up 13.67% from the prior-year quarter.
CHWY's full-year Zacks Consensus Estimates are calling for earnings of $0.56 per share and revenue of $11.32 billion. These results would represent year-over-year changes of +5.66% and +12.06%, respectively.
Any recent changes to analyst estimates for Chewy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 sporting a Zacks Rank of #3 (Hold).
Investors should also note Chewy's current valuation metrics, including its Forward P/E ratio of 46.92. This valuation marks a premium compared to its industry's average Forward P/E of 21.23.
It is also worth noting that CHWY currently has a PEG ratio of 1.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Consumer Products - Staples industry currently had an average PEG ratio of 2.48 as of yesterday's close.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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Chewy (CHWY) Dips More Than Broader Markets: What You Should Know
Chewy (CHWY - Free Report) closed the most recent trading day at $25.76, moving -1.6% from the previous trading session. This change lagged the S&P 500's daily loss of 1.35%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.87%.
Prior to today's trading, shares of the online pet store had lost 21.94% over the past month. This has lagged the Consumer Staples sector's loss of 3.72% and the S&P 500's loss of 2.06% 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. On that day, Chewy is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 120%. Meanwhile, our latest consensus estimate is calling for revenue of $2.76 billion, up 13.67% from the prior-year quarter.
CHWY's full-year Zacks Consensus Estimates are calling for earnings of $0.56 per share and revenue of $11.32 billion. These results would represent year-over-year changes of +5.66% and +12.06%, respectively.
Any recent changes to analyst estimates for Chewy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 sporting a Zacks Rank of #3 (Hold).
Investors should also note Chewy's current valuation metrics, including its Forward P/E ratio of 46.92. This valuation marks a premium compared to its industry's average Forward P/E of 21.23.
It is also worth noting that CHWY currently has a PEG ratio of 1.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Consumer Products - Staples industry currently had an average PEG ratio of 2.48 as of yesterday's close.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.