Equities Analysts Cut Earnings Estimates for Chewy Inc (NYSE:CHWY)

Equities Analysts Cut Earnings Estimates for Chewy Inc (NYSE:CHWY)

Chewy Inc (NYSE:CHWY) – Equities research analysts at William Blair cut their FY2020 earnings per share estimates for Chewy in a research report issued to clients and investors on Tuesday, December 10th, according to Zacks Investment Research. William Blair analyst D. Carden now expects that the company will post earnings of ($0.66) per share for the year, down from their prior forecast of ($0.50). William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Chewy’s Q4 2020 earnings at ($0.18) EPS, Q1 2021 earnings at ($0.13) EPS, Q2 2021 earnings at ($0.16) EPS, Q3 2021 earnings at ($0.16) EPS, Q4 2021 earnings at ($0.10) EPS, FY2021 earnings at ($0.55) EPS and FY2022 earnings at ($0.19) EPS.

Chewy (NYSE:CHWY) last released its earnings results on Monday, December 9th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. The company’s revenue was up 40.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.29) earnings per share.

Other equities analysts have also issued research reports about the company. Nomura upgraded Chewy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $32.00 to $36.00 in a research note on Monday, September 23rd. Wedbush reiterated a “neutral” rating and set a $30.00 price target on shares of Chewy in a research note on Monday, December 2nd. Credit Suisse Group assumed coverage on Chewy in a research note on Monday, November 11th. They issued an “outperform” rating and a $29.00 price objective for the company. Barclays lifted their target price on Chewy from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 18th. Finally, Raymond James reiterated a “hold” rating on shares of Chewy in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.92.

NYSE:CHWY opened at $29.42 on Thursday. The business’s fifty day moving average is $25.21. Chewy has a 12 month low of $21.68 and a 12 month high of $41.34.

Several hedge funds have recently bought and sold shares of the company. FinTrust Capital Advisors LLC acquired a new position in shares of Chewy during the 3rd quarter worth approximately $25,000. Evoke Wealth LLC acquired a new stake in Chewy in the 3rd quarter valued at $25,000. Advisor Group Inc. acquired a new stake in Chewy in the 2nd quarter valued at $45,000. BNP Paribas Arbitrage SA purchased a new stake in Chewy in the 2nd quarter worth $54,000. Finally, Royal Bank of Canada purchased a new stake in Chewy in the 2nd quarter worth $56,000.

In related news, CEO Sumit Singh sold 195,888 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $28.04, for a total transaction of $5,492,699.52. Following the sale, the chief executive officer now owns 810,889 shares in the company, valued at $22,737,327.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stacy Bowman sold 9,057 shares of Chewy stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $28.04, for a total transaction of $253,958.28. Following the completion of the transaction, the insider now directly owns 90,173 shares of the company’s stock, valued at approximately $2,528,450.92. The disclosure for this sale can be found here. Insiders have sold a total of 276,197 shares of company stock valued at $7,744,564 in the last quarter.

About Chewy

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

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