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Chewy (CHWY) Gains As Market Dips: What You Should Know

Chewy (CHWY) closed the most recent trading day at $44.92, moving +1.29% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.12%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.05%.

Prior to today's trading, shares of the online pet store had gained 25.11% over the past month. This has outpaced the Consumer Staples sector's gain of 7.37% and the S&P 500's gain of 5.93% 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 December 8, 2022. The company is expected to report EPS of -$0.08, down 166.67% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.45 billion, up 10.97% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.11 per share and revenue of $9.93 billion, which would represent changes of -466.67% and +11.71%, respectively, from the prior year.

Any recent changes to analyst estimates for Chewy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection has moved 5.1% lower. Chewy currently has a Zacks Rank of #3 (Hold).

The Consumer Products - Staples industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% 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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