Chewy (CHWY - Free Report) closed at $39.45 in the latest trading session, marking a -1.5% move from the prior day. This change lagged the S&P 500's daily gain of 1.67%. At the same time, the Dow added 1.53%, and the tech-heavy Nasdaq gained 2.08%.
CHWY will be looking to display strength as it nears its next earnings release, which is expected to be June 9, 2020. On that day, CHWY is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 37.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.55 billion, up 39.98% from the year-ago period.
CHWY's full-year Zacks Consensus Estimates are calling for earnings of -$0.37 per share and revenue of $6.71 billion. These results would represent year-over-year changes of -27.59% and +38.52%, respectively.
Any recent changes to analyst estimates for CHWY should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CHWY is holding a Zacks Rank of #2 (Buy) right now.
The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% 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.
To follow CHWY in the coming trading sessions, be sure to utilize Zacks.com.