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Chewy (CHWY) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Chewy (CHWY) closed at $45.09, marking a +1.46% move from the previous day. This change outpaced the S&P 500's 0.38% gain on the day. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.66%.

Wall Street will be looking for positivity from CHWY as it approaches its next earnings report date. This 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, our latest consensus estimate is calling for revenue of $1.55 billion, up 39.98% from the prior-year quarter.

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. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. 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 30, putting it in the top 12% 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.

To follow CHWY in the coming trading sessions, be sure to utilize Zacks.com.


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