Chewy (NYSE:CHWY) Announces Earnings Results, Misses Expectations By $0.01 EPS

Chewy (NYSE:CHWY) announced its earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01), Briefing.com reports. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the business posted ($0.15) EPS. The business’s revenue was up 45.2% compared to the same quarter last year. Chewy updated its Q2 2019 guidance to EPS and its FY 2019 guidance to EPS.

Shares of CHWY opened at $30.69 on Friday. Chewy has a fifty-two week low of $30.25 and a fifty-two week high of $41.34.

A number of analysts recently issued reports on CHWY shares. Nomura raised their target price on shares of Advanced Micro Devices from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Barclays raised their target price on shares of Roper Technologies from $342.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. William Blair started coverage on shares of Chewy in a research report on Tuesday, July 9th. They set an “outperform” rating on the stock. Jefferies Financial Group restated a “buy” rating and set a $30.00 target price on shares of Amarin in a research report on Tuesday, July 9th. Finally, Bank of America restated a “buy” rating and set a $43.00 target price (up previously from $36.00) on shares of The Medicines in a research report on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.56.

In related news, CEO Sumit Singh purchased 11,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were bought at an average price of $22.00 per share, for a total transaction of $242,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 47,875,000 shares of Chewy stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $20.90, for a total transaction of $1,000,587,500.00. The disclosure for this sale can be found here. In the last quarter, insiders acquired 152,500 shares of company stock worth $3,355,000.

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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