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Why the Market Dipped But Canada Goose (GOOS) Gained Today
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Canada Goose (GOOS - Free Report) closed at $12.22 in the latest trading session, marking a +1.5% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.96% for the day. Meanwhile, the Dow experienced a drop of 0.94%, and the technology-dominated Nasdaq saw a decrease of 1.18%.
Heading into today, shares of the high-end coat maker had gained 14.45% over the past month, outpacing the Retail-Wholesale sector's gain of 7.74% and the S&P 500's gain of 4.3% in that time.
Market participants will be closely following the financial results of Canada Goose in its upcoming release. The company's upcoming EPS is projected at -$0.06, signifying a 150% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $188 million, down 10.28% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.83 per share and revenue of $971.12 million, which would represent changes of +13.7% and -1.54%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Canada Goose. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Canada Goose presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Canada Goose is currently being traded at a Forward P/E ratio of 14.45. For comparison, its industry has an average Forward P/E of 16.81, which means Canada Goose is trading at a discount to the group.
Meanwhile, GOOS's PEG ratio is currently 0.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Retail - Apparel and Shoes industry stood at 1.93 at the close of the market yesterday.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 40% 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.
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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Why the Market Dipped But Canada Goose (GOOS) Gained Today
Canada Goose (GOOS - Free Report) closed at $12.22 in the latest trading session, marking a +1.5% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.96% for the day. Meanwhile, the Dow experienced a drop of 0.94%, and the technology-dominated Nasdaq saw a decrease of 1.18%.
Heading into today, shares of the high-end coat maker had gained 14.45% over the past month, outpacing the Retail-Wholesale sector's gain of 7.74% and the S&P 500's gain of 4.3% in that time.
Market participants will be closely following the financial results of Canada Goose in its upcoming release. The company's upcoming EPS is projected at -$0.06, signifying a 150% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $188 million, down 10.28% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.83 per share and revenue of $971.12 million, which would represent changes of +13.7% and -1.54%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Canada Goose. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Canada Goose presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Canada Goose is currently being traded at a Forward P/E ratio of 14.45. For comparison, its industry has an average Forward P/E of 16.81, which means Canada Goose is trading at a discount to the group.
Meanwhile, GOOS's PEG ratio is currently 0.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Retail - Apparel and Shoes industry stood at 1.93 at the close of the market yesterday.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 40% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.