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

Canada Goose (NYSE:GOOSGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $1.26-$1.50 for the period, compared to the consensus earnings per share 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 has been the topic of several research analyst reports. OTR Global cut shares of Canada Goose from a mixed rating to a negative rating in a research report on Friday, April 22nd. Cowen reduced their target price on shares of Canada Goose from $37.00 to $30.00 in a report on Friday, May 20th. CIBC reduced their price objective on Canada Goose from C$67.00 to C$45.00 in a research report on Friday, February 11th. Zacks Investment Research raised Canada Goose from a hold rating to a buy rating and set a $22.00 price target for the company in a research report on Tuesday, May 24th. Finally, Barclays lowered their price objective on Canada Goose from $32.00 to $26.00 and set an overweight rating on the stock in a research note on Monday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Canada Goose presently has a consensus rating of Buy and a consensus target price of $36.82.

Shares of GOOS stock opened at $21.29 on Thursday. 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 company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 0.55 and a beta of 1.62. Canada Goose has a 52-week low of $17.91 and a 52-week high of $53.64. The company has a 50-day simple moving average of $21.88 and a two-hundred day simple moving average of $28.70.

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 net margin of 8.52% and a return on equity of 25.08%. The company had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $223.46 million. During the same period in the prior year, the company posted $0.01 EPS. Canada Goose’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts forecast that Canada Goose will post 1.43 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. bought a new position in Canada Goose in the second quarter worth approximately $241,000. Wells Fargo & Company MN grew its stake in shares of Canada Goose by 58.5% in the 2nd quarter. Wells Fargo & Company MN now owns 25,936 shares of the company’s stock worth $1,134,000 after buying an additional 9,577 shares in the last quarter. 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 worth $762,000 after buying an additional 2,752 shares in the last quarter. GAM Holding AG grew its stake in shares of Canada Goose by 29.5% in the 4th quarter. GAM Holding AG now owns 310,068 shares of the company’s stock worth $11,491,000 after buying an additional 70,700 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Canada Goose in the 4th quarter worth about $212,000. 42.99% of the stock is owned by institutional investors.

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 Pacific, Europe, the Middle East, Africa, and Latin America. The company operates through three segments: Direct-to-Consumer, Wholesale, and Other.

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