Canada Goose (NYSE:GOOS) Releases FY 2023 Earnings Guidance

Posted by on Jun 2nd, 2022

Canada Goose (NYSE:GOOS – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.26-$1.50 for the period, compared to the consensus estimate of $1.20. The company issued revenue guidance of $1.03 billion-$1.10 billion, compared to the consensus revenue estimate of $1.00 billion.Canada Goose also updated its Q1 2023 guidance to -$0.51–$0.47 EPS.

GOOS opened at $20.08 on Thursday. Canada Goose has a one year low of $17.91 and a one year high of $53.64. The company has a market cap of $2.15 billion, a P/E ratio of 29.10, a PEG ratio of 0.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.31 and a current ratio of 2.71. The business’s 50-day simple moving average is $22.46 and its 200-day simple moving average is $29.75.

Canada Goose (NYSE:GOOS – Get Rating) last released its quarterly earnings data on Thursday, May 19th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $223.10 million for the quarter, compared to the consensus estimate of $223.46 million. Canada Goose had a return on equity of 25.08% and a net margin of 8.52%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. As a group, analysts predict that Canada Goose will post 1.43 earnings per share for the current fiscal year.

GOOS has been the subject of a number of research reports. Cowen reduced their price objective on Canada Goose from $37.00 to $30.00 in a research note on Friday, May 20th. Veritas Investment Research upgraded Canada Goose from a reduce rating to a buy rating in a research note on Monday, February 14th. OTR Global cut Canada Goose from a mixed rating to a negative rating in a research note on Friday, April 22nd. TD Securities boosted their price objective on Canada Goose from C$49.00 to C$54.00 in a research note on Friday, May 20th. Finally, Zacks Investment Research upgraded Canada Goose from a hold rating to a buy rating and set a $22.00 price target for the company in a research note on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Canada Goose has a consensus rating of Buy and a consensus price target of $36.82.

A number of large investors have recently added to or reduced their stakes in GOOS. The Manufacturers Life Insurance Company grew its holdings in Canada Goose by 203.0% in the first quarter. The Manufacturers Life Insurance Company now owns 3,179,953 shares of the company’s stock valued at $83,715,000 after purchasing an additional 2,130,452 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Canada Goose by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,626,615 shares of the company’s stock valued at $42,828,000 after acquiring an additional 20,326 shares during the last quarter. Wasatch Advisors Inc. acquired a new stake in shares of Canada Goose during the first quarter valued at $25,797,000. Goldman Sachs Group Inc. boosted its stake in shares of Canada Goose by 794.2% during the first quarter. Goldman Sachs Group Inc. now owns 819,179 shares of the company’s stock valued at $21,569,000 after acquiring an additional 727,566 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Canada Goose during the fourth quarter valued at $17,653,000. Hedge funds and other institutional investors own 42.99% of the company’s stock.

About Canada Goose (Get Rating)

Canada Goose Holdings Inc designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia, Europe, and internationally. It operates through three segments: Direct-to-Consumer, Wholesale, and Other. The company offers parkas, lightweight down jackets, rainwear, windwear, knitwear, footwear, and accessories for fall, winter, and spring seasons.

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