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Chewy (CHWY) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Chewy (CHWY - Free Report) closed at $33.61, marking a -0.94% move from the previous day. This change lagged the S&P 500's daily loss of 0.64%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 4.13%.
Coming into today, shares of the online pet store had gained 2.91% in the past month. In that same time, the Consumer Staples sector gained 1.51%, while the S&P 500 gained 0.13%.
Wall Street will be looking for positivity from Chewy as it approaches its next earnings report date. This is expected to be May 31, 2023. In that report, analysts expect Chewy to post earnings of -$0.02 per share. This would mark a year-over-year decline of 150%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.73 billion, up 12.54% from the year-ago period.
CHWY's full-year Zacks Consensus Estimates are calling for earnings of $0.02 per share and revenue of $11.24 billion. These results would represent year-over-year changes of -96.23% and +11.29%, respectively.
It is also important to note the recent changes to analyst estimates for Chewy. 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. 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. The Zacks Consensus EPS estimate has moved 175% higher within the past month. Chewy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Chewy has a Forward P/E ratio of 2310 right now. For comparison, its industry has an average Forward P/E of 17.43, which means Chewy is trading at a premium to the group.
It is also worth noting that CHWY currently has a PEG ratio of 115.5. 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 Consumer Products - Staples was holding an average PEG ratio of 2.45 at yesterday's closing price.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Chewy (CHWY) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Chewy (CHWY - Free Report) closed at $33.61, marking a -0.94% move from the previous day. This change lagged the S&P 500's daily loss of 0.64%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 4.13%.
Coming into today, shares of the online pet store had gained 2.91% in the past month. In that same time, the Consumer Staples sector gained 1.51%, while the S&P 500 gained 0.13%.
Wall Street will be looking for positivity from Chewy as it approaches its next earnings report date. This is expected to be May 31, 2023. In that report, analysts expect Chewy to post earnings of -$0.02 per share. This would mark a year-over-year decline of 150%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.73 billion, up 12.54% from the year-ago period.
CHWY's full-year Zacks Consensus Estimates are calling for earnings of $0.02 per share and revenue of $11.24 billion. These results would represent year-over-year changes of -96.23% and +11.29%, respectively.
It is also important to note the recent changes to analyst estimates for Chewy. 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. 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. The Zacks Consensus EPS estimate has moved 175% higher within the past month. Chewy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Chewy has a Forward P/E ratio of 2310 right now. For comparison, its industry has an average Forward P/E of 17.43, which means Chewy is trading at a premium to the group.
It is also worth noting that CHWY currently has a PEG ratio of 115.5. 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 Consumer Products - Staples was holding an average PEG ratio of 2.45 at yesterday's closing price.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.