Chewy (NYSE:CHWY) Issues Quarterly Earnings Results, Misses Expectations By $0.10 EPS

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Chewy (NYSE:CHWY) announced its earnings results on Tuesday. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.10), reports. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm posted ($0.16) EPS. The firm’s revenue for the quarter was up 43.1% compared to the same quarter last year. Chewy updated its FY 2019 guidance to EPS and its Q3 2019 guidance to EPS.

Chewy stock opened at $27.43 on Friday. The firm has a 50 day moving average price of $31.84. Chewy has a 12 month low of $26.85 and a 12 month high of $41.34.

CHWY has been the subject of several recent analyst reports. William Blair initiated coverage on Chewy in a research note on Tuesday, July 9th. They set an “outperform” rating for the company. Nomura decreased their target price on Chewy from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday. Raymond James restated a “hold” rating on shares of Chewy in a research note on Friday, July 19th. Wedbush set a $30.00 target price on Chewy and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, UBS Group initiated coverage on Chewy in a research note on Tuesday, July 9th. They set a “buy” rating and a $42.00 target price for the company. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.45.

Chewy Company Profile

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 retail Website, as well as its mobile applications.

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