Q2 2023 EPS Estimates for Chewy, Inc. Increased by Analyst (NYSE:CHWY)

Chewy, Inc. (NYSE:CHWYGet Rating) – Wedbush upped their Q2 2023 earnings per share (EPS) estimates for shares of Chewy in a research report issued to clients and investors on Tuesday, June 21st. Wedbush analyst S. Basham now anticipates that the company will post earnings of ($0.10) per share for the quarter, up from their previous forecast of ($0.11). Wedbush currently has a “Outperform” rating and a $35.00 target price on the stock. The consensus estimate for Chewy’s current full-year earnings is ($0.35) per share. Wedbush also issued estimates for Chewy’s Q3 2023 earnings at ($0.10) EPS, Q4 2023 earnings at ($0.12) EPS, FY2023 earnings at ($0.28) EPS, FY2024 earnings at ($0.19) EPS and FY2025 earnings at ($0.05) EPS.

Chewy (NYSE:CHWYGet Rating) last released its quarterly earnings results on Wednesday, June 1st. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.16. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.41 billion. Chewy had a negative return on equity of 175.48% and a negative net margin of 1.02%. Chewy’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS.

Several other research firms also recently issued reports on CHWY. Robert W. Baird dropped their price objective on Chewy from $60.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, June 2nd. Citigroup dropped their price objective on Chewy from $45.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, June 2nd. Wolfe Research boosted their price target on Chewy from $32.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, June 2nd. Royal Bank of Canada lowered their price target on Chewy from $73.00 to $59.00 in a report on Thursday, June 2nd. Finally, Morgan Stanley lowered their price target on Chewy from $62.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, June 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus target price of $55.32.

CHWY stock opened at $36.65 on Thursday. Chewy has a 52-week low of $22.22 and a 52-week high of $97.74. The stock’s 50 day moving average is $29.45 and its two-hundred day moving average is $41.25. The company has a market capitalization of $15.41 billion, a PE ratio of -159.35 and a beta of 0.77.

Several institutional investors have recently made changes to their positions in the company. CWM LLC acquired a new position in Chewy during the fourth quarter valued at $27,000. Charles Schwab Investment Management Inc. raised its position in Chewy by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 673,900 shares of the company’s stock valued at $39,741,000 after buying an additional 28,064 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in Chewy by 103.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 28,932 shares of the company’s stock valued at $1,719,000 after buying an additional 14,700 shares during the period. Brinker Capital Investments LLC raised its position in Chewy by 7.4% during the fourth quarter. Brinker Capital Investments LLC now owns 9,762 shares of the company’s stock valued at $576,000 after buying an additional 670 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Chewy by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 143,960 shares of the company’s stock valued at $8,489,000 after buying an additional 23,330 shares during the period.

In other news, insider Stacy Bowman sold 25,879 shares of the company’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $27.18, for a total value of $703,391.22. Following the completion of the sale, the insider now owns 193,392 shares in the company, valued at $5,256,394.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James A. Star acquired 36,127 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was purchased at an average price of $27.71 per share, with a total value of $1,001,079.17. Following the acquisition, the director now owns 110,949 shares of the company’s stock, valued at $3,074,396.79. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 351,369 shares of company stock valued at $9,550,209. Insiders own 1.80% of the company’s stock.

Chewy Company Profile (Get Rating)

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its www.chewy.com retail Website, as well as its mobile applications.

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Earnings History and Estimates for Chewy (NYSE:CHWY)

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