Canada Goose (NYSE:GOOS) Updates Q2 2023 Earnings Guidance

Canada Goose (NYSE:GOOSGet Rating) updated its second quarter 2023 earnings guidance on Friday. The company provided earnings per share guidance of $0.02-$0.11 for the period, compared to the consensus earnings per share estimate of $0.11. The company issued revenue guidance of $199.82 million-$215.50 million, compared to the consensus revenue estimate of $202.32 million. Canada Goose also updated its FY 2023 guidance to $1.25-$1.49 EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOS. TD Securities lifted their price objective on shares of Canada Goose from C$49.00 to C$54.00 in a report on Friday, May 20th. Cowen cut their price objective on shares of Canada Goose from $37.00 to $30.00 and set an outperform rating on the stock in a report on Friday, May 20th. The Goldman Sachs Group cut their price objective on shares of Canada Goose from $26.00 to $20.00 and set a neutral rating on the stock in a report on Thursday, July 21st. Credit Suisse Group cut their price target on shares of Canada Goose from C$48.00 to C$37.00 in a report on Friday, May 20th. Finally, Robert W. Baird boosted their price target on shares of Canada Goose from $39.00 to $42.00 in a report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $34.40.

Canada Goose Price Performance

NYSE GOOS opened at $18.24 on Friday. The company has a market cap of $1.92 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 0.44 and a beta of 1.58. Canada Goose has a 52 week low of $16.65 and a 52 week high of $53.64. The company has a quick ratio of 0.66, a current ratio of 2.42 and a debt-to-equity ratio of 1.07. The firm’s 50-day simple moving average is $19.08 and its two-hundred day simple moving average is $21.22.

Canada Goose (NYSE:GOOSGet Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The business had revenue of $54.77 million for the quarter. Canada Goose had a net margin of 8.13% and a return on equity of 26.71%. Research analysts predict that Canada Goose will post 1.42 earnings per share for the current year.

Institutional Investors Weigh In On Canada Goose

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Canada Goose by 0.5% in the first quarter. BlackRock Inc. now owns 465,058 shares of the company’s stock worth $12,244,000 after purchasing an additional 2,086 shares in the last quarter. State Street Corp boosted its position in Canada Goose by 8.1% in the first quarter. State Street Corp now owns 34,360 shares of the company’s stock worth $905,000 after purchasing an additional 2,574 shares during the last quarter. PDT Partners LLC boosted its position in Canada Goose by 5.0% in the first quarter. PDT Partners LLC now owns 95,875 shares of the company’s stock worth $2,524,000 after purchasing an additional 4,575 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Canada Goose by 21.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 50,910 shares of the company’s stock valued at $1,340,000 after buying an additional 8,879 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Canada Goose in the 1st quarter worth approximately $286,000. 44.18% of the stock is currently owned by institutional investors.

Canada Goose Company Profile

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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.

Further Reading

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