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Cava Group (CAVA) Stock Moves -1.64%: What You Should Know
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Cava Group (CAVA - Free Report) closed the most recent trading day at $79.91, moving -1.64% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 3%. Elsewhere, the Dow lost 2.6%, while the tech-heavy Nasdaq lost 3.43%.
Coming into today, shares of the Mediterranean restaurant chain had lost 14.48% in the past month. In that same time, the Retail-Wholesale sector lost 5.36%, while the S&P 500 lost 2.92%.
The investment community will be paying close attention to the earnings performance of Cava Group in its upcoming release. The company is slated to reveal its earnings on August 22, 2024. The company is expected to report EPS of $0.12, down 42.86% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $220.63 million, indicating a 27.61% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.34 per share and a revenue of $905.54 million, demonstrating changes of +61.9% and +24.27%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cava Group. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% higher. Currently, Cava Group is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Cava Group is currently trading at a Forward P/E ratio of 235.97. This expresses a premium compared to the average Forward P/E of 19.5 of its industry.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 187, finds itself in the bottom 27% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Cava Group (CAVA) Stock Moves -1.64%: What You Should Know
Cava Group (CAVA - Free Report) closed the most recent trading day at $79.91, moving -1.64% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 3%. Elsewhere, the Dow lost 2.6%, while the tech-heavy Nasdaq lost 3.43%.
Coming into today, shares of the Mediterranean restaurant chain had lost 14.48% in the past month. In that same time, the Retail-Wholesale sector lost 5.36%, while the S&P 500 lost 2.92%.
The investment community will be paying close attention to the earnings performance of Cava Group in its upcoming release. The company is slated to reveal its earnings on August 22, 2024. The company is expected to report EPS of $0.12, down 42.86% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $220.63 million, indicating a 27.61% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.34 per share and a revenue of $905.54 million, demonstrating changes of +61.9% and +24.27%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cava Group. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% higher. Currently, Cava Group is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Cava Group is currently trading at a Forward P/E ratio of 235.97. This expresses a premium compared to the average Forward P/E of 19.5 of its industry.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 187, finds itself in the bottom 27% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.