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Chewy (CHWY) Outpaces Stock Market Gains: What You Should Know
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Chewy (CHWY - Free Report) closed at $40.43 in the latest trading session, marking a +0.32% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.07%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 1.47%.
Heading into today, shares of the online pet store had lost 17.3% over the past month, lagging the Consumer Staples sector's loss of 0.66% and the S&P 500's loss of 2% 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 March 22, 2023. On that day, Chewy is projected to report earnings of -$0.12 per share, which would represent a year-over-year decline of 9.09%. Our most recent consensus estimate is calling for quarterly revenue of $2.64 billion, up 10.68% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Chewy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Chewy currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Chewy has a Forward P/E ratio of 326.76 right now. Its industry sports an average Forward P/E of 16.86, so we one might conclude that Chewy is trading at a premium comparatively.
We can also see that CHWY currently has a PEG ratio of 16.34. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Consumer Products - Staples industry currently had an average PEG ratio of 2.07 as of yesterday's close.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CHWY in the coming trading sessions, be sure to utilize Zacks.com.
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Chewy (CHWY) Outpaces Stock Market Gains: What You Should Know
Chewy (CHWY - Free Report) closed at $40.43 in the latest trading session, marking a +0.32% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.07%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 1.47%.
Heading into today, shares of the online pet store had lost 17.3% over the past month, lagging the Consumer Staples sector's loss of 0.66% and the S&P 500's loss of 2% 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 March 22, 2023. On that day, Chewy is projected to report earnings of -$0.12 per share, which would represent a year-over-year decline of 9.09%. Our most recent consensus estimate is calling for quarterly revenue of $2.64 billion, up 10.68% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Chewy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Chewy currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Chewy has a Forward P/E ratio of 326.76 right now. Its industry sports an average Forward P/E of 16.86, so we one might conclude that Chewy is trading at a premium comparatively.
We can also see that CHWY currently has a PEG ratio of 16.34. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Consumer Products - Staples industry currently had an average PEG ratio of 2.07 as of yesterday's close.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CHWY in the coming trading sessions, be sure to utilize Zacks.com.