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Here's Why Canada Goose (GOOS) Fell More Than Broader Market September 18, 2024
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Canada Goose (GOOS - Free Report) closed at $10.50 in the latest trading session, marking a -0.76% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.
Shares of the high-end coat maker witnessed a loss of 10.94% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 4.15% and the S&P 500's gain of 1.57%.
Market participants will be closely following the financial results of Canada Goose in its upcoming release. The company is predicted to post an EPS of -$0.06, indicating a 150% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $188 million, indicating a 10.28% downward movement from the same quarter last year.
GOOS's full-year Zacks Consensus Estimates are calling for earnings of $0.83 per share and revenue of $971.12 million. These results would represent year-over-year changes of +13.7% and -1.54%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Canada Goose. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Canada Goose possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Canada Goose has a Forward P/E ratio of 12.7 right now. This signifies a discount in comparison to the average Forward P/E of 17.27 for its industry.
Investors should also note that GOOS has a PEG ratio of 0.58 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Retail - Apparel and Shoes industry held an average PEG ratio of 1.83.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 35% of all industries, numbering over 250.
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.
To follow GOOS in the coming trading sessions, be sure to utilize Zacks.com.
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Canada Goose (GOOS - Free Report) closed at $10.50 in the latest trading session, marking a -0.76% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.
Shares of the high-end coat maker witnessed a loss of 10.94% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 4.15% and the S&P 500's gain of 1.57%.
Market participants will be closely following the financial results of Canada Goose in its upcoming release. The company is predicted to post an EPS of -$0.06, indicating a 150% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $188 million, indicating a 10.28% downward movement from the same quarter last year.
GOOS's full-year Zacks Consensus Estimates are calling for earnings of $0.83 per share and revenue of $971.12 million. These results would represent year-over-year changes of +13.7% and -1.54%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Canada Goose. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Canada Goose possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Canada Goose has a Forward P/E ratio of 12.7 right now. This signifies a discount in comparison to the average Forward P/E of 17.27 for its industry.
Investors should also note that GOOS has a PEG ratio of 0.58 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Retail - Apparel and Shoes industry held an average PEG ratio of 1.83.
The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 35% of all industries, numbering over 250.
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.
To follow GOOS in the coming trading sessions, be sure to utilize Zacks.com.