Chewy, Inc. (NYSE:CHWY) Forecasted to Post Q2 2024 Earnings of ($0.03) Per Share

Posted by on Jun 5th, 2023

Chewy, Inc. (NYSE:CHWY – Get Rating) – Equities researchers at William Blair decreased their Q2 2024 earnings estimates for shares of Chewy in a research report issued to clients and investors on Thursday, June 1st. William Blair analyst D. Carden now anticipates that the company will earn ($0.03) per share for the quarter, down from their previous forecast of ($0.02). The consensus estimate for Chewy’s current full-year earnings is ($0.09) per share. William Blair also issued estimates for Chewy’s Q4 2024 earnings at ($0.02) EPS and FY2025 earnings at $0.25 EPS.

A number of other analysts have also commented on CHWY. Barclays boosted their price objective on shares of Chewy from $33.00 to $35.00 in a research report on Thursday. Citigroup lowered their target price on shares of Chewy from $43.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, March 27th. Roth Mkm initiated coverage on shares of Chewy in a report on Friday, March 10th. They set a “buy” rating and a $52.00 target price on the stock. Gordon Haskett upgraded shares of Chewy from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Chewy from $41.00 to $42.00 in a report on Thursday. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.65.

Chewy Stock Down 0.9 %

Shares of NYSE:CHWY opened at $35.51 on Monday. The firm has a market cap of $15.16 billion, a P/E ratio of 295.92 and a beta of 0.76. Chewy has a 12 month low of $26.47 and a 12 month high of $52.88. The company’s 50-day moving average price is $33.46 and its two-hundred day moving average price is $38.74.

Chewy (NYSE:CHWY – Get Rating) last announced its quarterly earnings data on Wednesday, March 22nd. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.28. Chewy had a net margin of 0.51% and a return on equity of 39.90%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.64 billion.

Institutional Investors Weigh In On Chewy

Hedge funds have recently made changes to their positions in the company. Belpointe Asset Management LLC acquired a new stake in Chewy during the fourth quarter worth about $33,000. Quarry LP boosted its position in Chewy by 120.2% during the first quarter. Quarry LP now owns 874 shares of the company’s stock worth $33,000 after purchasing an additional 477 shares in the last quarter. WASHINGTON TRUST Co purchased a new position in Chewy during the first quarter worth approximately $37,000. Quintet Private Bank Europe S.A. purchased a new position in Chewy during the first quarter worth approximately $37,000. Finally, CWM LLC boosted its position in Chewy by 39.3% during the fourth quarter. CWM LLC now owns 1,014 shares of the company’s stock worth $38,000 after purchasing an additional 286 shares in the last quarter. 99.05% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Company Profile

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Chewy, Inc operates as a pure-play pet e-tailer in the United States. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.

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Earnings History and Estimates for Chewy (NYSE:CHWY)

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