Yahoo Finance Chewy (CHWY) Laps the Stock Market: Here's Why
The latest trading session saw Chewy (CHWY) ending at $16.57, denoting a +1.91% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.7%. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 1.1%.
The online pet store's shares have seen an increase of 5.72% over the last month, surpassing the Consumer Staples sector's gain of 1.92% and the S&P 500's gain of 4.03%.
Investors will be eagerly watching for the performance of Chewy in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 29, 2024. The company is predicted to post an EPS of $0.21, indicating a 5% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.85 billion, reflecting a 2.27% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.84 per share and revenue of $11.7 billion, indicating changes of +21.74% and +5.12%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Chewy. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate has shifted 2.17% upward. Chewy presently features a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Chewy is currently exchanging hands at a Forward P/E ratio of 19.46. This denotes a premium relative to the industry's average Forward P/E of 18.76.
Also, we should mention that CHWY has a PEG ratio of 0.78. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Consumer Products - Staples industry had an average PEG ratio of 2.08.
The Consumer Products - Staples industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 47, positioning it in the top 19% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Chewy (CHWY) : Free Stock Analysis Report
