Canada Goose (NYSE:GOOS) Releases Q1 2023 Earnings Guidance

Canada Goose (NYSE:GOOSGet Rating) updated its first quarter 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -$0.51–$0.47 for the period, compared to the consensus estimate of -$0.38. The company issued revenue guidance of $47.35 million-$51.30 million, compared to the consensus revenue estimate of $51.88 million.Canada Goose also updated its FY 2023 guidance to $1.26-$1.50 EPS.

Several brokerages have issued reports on GOOS. Wells Fargo & Company cut their price objective on Canada Goose from C$45.00 to C$38.00 in a research report on Friday, May 20th. Cowen cut their price objective on Canada Goose from $37.00 to $30.00 and set an outperform rating for the company in a research report on Friday, May 20th. Credit Suisse Group cut their price objective on Canada Goose from C$48.00 to C$37.00 in a research report on Friday, May 20th. TD Securities lifted their target price on Canada Goose from C$49.00 to C$54.00 in a research note on Friday, May 20th. Finally, Robert W. Baird lifted their target price on Canada Goose from $39.00 to $42.00 in a research note on Friday, May 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Canada Goose presently has an average rating of Buy and an average target price of $36.82.

NYSE GOOS opened at $20.08 on Thursday. The business has a fifty day moving average price of $22.46 and a two-hundred day moving average price of $29.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.71 and a quick ratio of 1.31. Canada Goose has a fifty-two week low of $17.91 and a fifty-two week high of $53.64. The stock has a market capitalization of $2.15 billion, a PE ratio of 29.10, a PEG ratio of 0.51 and a beta of 1.62.

Canada Goose (NYSE:GOOSGet Rating) last announced its quarterly earnings results on Thursday, May 19th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Canada Goose had a return on equity of 25.08% and a net margin of 8.52%. The company had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $223.46 million. During the same period in the prior year, the company earned $0.01 EPS. Canada Goose’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that Canada Goose will post 1.43 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in Canada Goose by 3.6% during the 3rd quarter. Invesco Ltd. now owns 5,708 shares of the company’s stock worth $204,000 after acquiring an additional 196 shares during the period. LPL Financial LLC acquired a new stake in Canada Goose during the 4th quarter worth about $212,000. Acadian Asset Management LLC acquired a new stake in Canada Goose during the 1st quarter worth about $286,000. BNP Paribas Arbitrage SA grew its stake in shares of Canada Goose by 14.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 21,353 shares of the company’s stock valued at $762,000 after buying an additional 2,752 shares during the period. Finally, State Street Corp grew its stake in shares of Canada Goose by 8.1% in the 1st quarter. State Street Corp now owns 34,360 shares of the company’s stock valued at $905,000 after buying an additional 2,574 shares during the period. 42.99% of the stock is owned by institutional investors and hedge funds.

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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