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Chewy (CHWY) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest market close, Chewy (CHWY - Free Report) reached $16.28, with a +1.5% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, added 0.65%.
Coming into today, shares of the online pet store had lost 0.68% in the past month. In that same time, the Consumer Staples sector gained 7.27%, while the S&P 500 gained 5.78%.
Market participants will be closely following the financial results of Chewy in its upcoming release. The company plans to announce its earnings on May 29, 2024. The company is forecasted to report an EPS of $0.21, showcasing a 5% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.87 billion, indicating a 2.92% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.83 per share and a revenue of $11.74 billion, indicating changes of +20.29% and +5.55%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Chewy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Chewy possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Chewy is currently being traded at a Forward P/E ratio of 19.23. This denotes a premium relative to the industry's average Forward P/E of 19.11.
One should further note that CHWY currently holds a PEG ratio of 0.77. 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. As of the close of trade yesterday, the Consumer Products - Staples industry held an average PEG ratio of 2.19.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Chewy (CHWY) Surpasses Market Returns: Some Facts Worth Knowing
In the latest market close, Chewy (CHWY - Free Report) reached $16.28, with a +1.5% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, added 0.65%.
Coming into today, shares of the online pet store had lost 0.68% in the past month. In that same time, the Consumer Staples sector gained 7.27%, while the S&P 500 gained 5.78%.
Market participants will be closely following the financial results of Chewy in its upcoming release. The company plans to announce its earnings on May 29, 2024. The company is forecasted to report an EPS of $0.21, showcasing a 5% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.87 billion, indicating a 2.92% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.83 per share and a revenue of $11.74 billion, indicating changes of +20.29% and +5.55%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Chewy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Chewy possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Chewy is currently being traded at a Forward P/E ratio of 19.23. This denotes a premium relative to the industry's average Forward P/E of 19.11.
One should further note that CHWY currently holds a PEG ratio of 0.77. 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. As of the close of trade yesterday, the Consumer Products - Staples industry held an average PEG ratio of 2.19.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 50, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.