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Cava Group (CAVA) Gains As Market Dips: What You Should Know
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Cava Group (CAVA - Free Report) closed at $78.74 in the latest trading session, marking a +0.66% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.27%. Meanwhile, the Dow lost 0.51%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Coming into today, shares of the Mediterranean restaurant chain had gained 27.83% in the past month. In that same time, the Retail-Wholesale sector gained 5.78%, while the S&P 500 gained 7.34%.
The investment community will be closely monitoring the performance of Cava Group in its forthcoming earnings report. The company is scheduled to release its earnings on May 28, 2024.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.25 per share and a revenue of $874.65 million, signifying shifts of +19.05% and +20.03%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Cava Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Cava Group is carrying a Zacks Rank of #2 (Buy).
Investors should also note Cava Group's current valuation metrics, including its Forward P/E ratio of 316.5. This denotes a premium relative to the industry's average Forward P/E of 19.94.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cava Group (CAVA) Gains As Market Dips: What You Should Know
Cava Group (CAVA - Free Report) closed at $78.74 in the latest trading session, marking a +0.66% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.27%. Meanwhile, the Dow lost 0.51%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Coming into today, shares of the Mediterranean restaurant chain had gained 27.83% in the past month. In that same time, the Retail-Wholesale sector gained 5.78%, while the S&P 500 gained 7.34%.
The investment community will be closely monitoring the performance of Cava Group in its forthcoming earnings report. The company is scheduled to release its earnings on May 28, 2024.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.25 per share and a revenue of $874.65 million, signifying shifts of +19.05% and +20.03%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Cava Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Cava Group is carrying a Zacks Rank of #2 (Buy).
Investors should also note Cava Group's current valuation metrics, including its Forward P/E ratio of 316.5. This denotes a premium relative to the industry's average Forward P/E of 19.94.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.