Chewy (NYSE:CHWY) Announces Earnings Results, Beats Estimates By $0.11 EPS

Chewy (NYSE:CHWY) released its earnings results on Wednesday. The company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.11, reports. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm earned ($0.12) EPS. The firm’s revenue was up 31.7% on a year-over-year basis.

NYSE CHWY traded down $3.66 during trading on Friday, reaching $75.69. 221,980 shares of the company traded hands, compared to its average volume of 3,482,052. Chewy has a 1-year low of $44.31 and a 1-year high of $120.00. The firm has a market capitalization of $31.43 billion, a P/E ratio of -327.43, a price-to-earnings-growth ratio of 19.52 and a beta of 0.08. The stock has a 50 day moving average price of $76.96.

In other news, insider Stacy Bowman sold 11,422 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $87.00, for a total value of $993,714.00. Following the sale, the insider now owns 77,590 shares of the company’s stock, valued at approximately $6,750,330. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 6,150,000 shares of the stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $81.50, for a total transaction of $501,225,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

A number of research firms have recently commented on CHWY. Morgan Stanley lifted their price objective on Chewy from $76.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 31st. They noted that the move was a valuation call. Cfra initiated coverage on Chewy in a research report on Monday, April 12th. They issued a “hold” rating on the stock. Zacks Investment Research cut Chewy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 2nd. Guggenheim initiated coverage on shares of Chewy in a research note on Monday, May 3rd. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Bank of America reiterated a “buy” rating and set a $133.00 target price on shares of Chewy in a research note on Friday, April 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $96.56.

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 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 retail Website, as well as its mobile applications.

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Earnings History for Chewy (NYSE:CHWY)

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