Yahoo Finance Canada Goose (GOOS) Stock Drops Despite Market Gains: Important Facts to Note
Canada Goose (GOOS) closed at $13.29 in the latest trading session, marking a -1.7% move from the prior day. This change lagged the S&P 500's daily gain of 0.23%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 0.34%.
The high-end coat maker's stock has climbed by 18.39% in the past month, exceeding the Retail-Wholesale sector's gain of 0.79% and the S&P 500's gain of 3.96%.
The investment community will be paying close attention to the earnings performance of Canada Goose in its upcoming release. The company is predicted to post an EPS of -$0.55, indicating a 5.77% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $64.24 million, showing a 1.74% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.83 per share and revenue of $986.24 million, which would represent changes of +13.7% and 0%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Canada Goose. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 6.41% upward. At present, Canada Goose boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Canada Goose has a Forward P/E ratio of 16.29 right now. For comparison, its industry has an average Forward P/E of 16.36, which means Canada Goose is trading at a discount to the group.
It's also important to note that GOOS currently trades at a PEG ratio of 2.43. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Retail - Apparel and Shoes industry held an average PEG ratio of 2.29.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Canada Goose Holdings Inc. (GOOS) : Free Stock Analysis Report
