Wedbush Comments on Chewy Inc’s FY2020 Earnings (NYSE:CHWY)

Chewy Inc (NYSE:CHWY) – Equities research analysts at Wedbush reduced their FY2020 earnings per share estimates for shares of Chewy in a research report issued on Tuesday, December 10th. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of ($0.55) for the year, down from their prior estimate of ($0.47). Wedbush has a “Neutral” rating and a $30.00 price objective on the stock. Wedbush also issued estimates for Chewy’s Q4 2020 earnings at ($0.07) EPS, Q2 2021 earnings at ($0.03) EPS, Q3 2021 earnings at ($0.05) EPS and FY2021 earnings at ($0.07) EPS.

Chewy (NYSE:CHWY) last issued its earnings results on Monday, December 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business earned ($0.29) earnings per share. The firm’s revenue was up 40.5% on a year-over-year basis.

A number of other brokerages also recently issued reports on CHWY. Wells Fargo & Co reaffirmed a “buy” rating on shares of Chewy in a research note on Monday. Barclays raised their target price on Chewy from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 18th. William Blair reaffirmed a “buy” rating on shares of Chewy in a research note on Wednesday. Royal Bank of Canada raised their target price on Chewy from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, ValuEngine raised Chewy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $35.92.

Shares of CHWY opened at $27.95 on Thursday. Chewy has a 52-week low of $21.68 and a 52-week high of $41.34. The business has a fifty day moving average of $24.43.

In other Chewy news, Director Sharon Mccollam purchased 3,500 shares of the stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $27.50 per share, for a total transaction of $96,250.00. Also, Director James A. Star purchased 41,521 shares of the stock in a transaction dated Tuesday, October 1st. The shares were acquired at an average price of $23.94 per share, with a total value of $994,012.74.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Morgan Stanley purchased a new position in Chewy during the 2nd quarter valued at about $165,887,000. Baillie Gifford & Co. purchased a new position in Chewy during the 2nd quarter valued at about $116,574,000. Vanguard Group Inc. purchased a new position in Chewy during the 2nd quarter valued at about $115,212,000. Price T Rowe Associates Inc. MD purchased a new position in Chewy during the 2nd quarter valued at about $97,010,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Chewy by 10.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,228,896 shares of the company’s stock valued at $54,786,000 after acquiring an additional 201,871 shares during the period.

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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Earnings History and Estimates for Chewy (NYSE:CHWY)

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