Canada Goose (NYSE:GOOS) Updates FY 2024 Earnings Guidance

Canada Goose (NYSE:GOOS – Get Rating) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of $0.89-$1.09 for the period, compared to the consensus earnings per share estimate of $1.05. The company issued revenue guidance of $1.04 billion-$1.11 billion, compared to the consensus revenue estimate of $973.00 million. Canada Goose also updated its Q1 2024 guidance to -$0.66–$0.61 EPS.

Canada Goose Stock Down 0.8 %

Shares of NYSE GOOS traded down $0.13 during midday trading on Friday, hitting $16.02. 99,567 shares of the stock traded hands, compared to its average volume of 1,958,080. The company has a market cap of $1.68 billion, a PE ratio of 33.38, a P/E/G ratio of 0.48 and a beta of 1.63. Canada Goose has a one year low of $14.51 and a one year high of $24.73. The business has a 50 day moving average price of $18.76 and a two-hundred day moving average price of $19.04. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.11 and a current ratio of 2.45.

Canada Goose (NYSE:GOOS – Get Rating) last posted its earnings results on Thursday, May 18th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Canada Goose had a net margin of 5.58% and a return on equity of 25.45%. The company had revenue of $216.84 million for the quarter. On average, equities analysts predict that Canada Goose will post 1.06 EPS for the current year.

Analysts Set New Price Targets

GOOS has been the topic of several recent analyst reports. UBS Group dropped their price objective on Canada Goose from $23.00 to $20.00 and set a neutral rating on the stock in a research note on Wednesday, March 29th. Bank of America dropped their price objective on Canada Goose from $17.00 to $14.80 in a research note on Thursday, May 18th. Barclays cut Canada Goose from an overweight rating to an equal weight rating in a research note on Tuesday, May 2nd. Cowen cut their target price on Canada Goose from $26.00 to $22.00 and set an outperform rating on the stock in a research note on Friday, February 3rd. Finally, Credit Suisse Group boosted their target price on Canada Goose from C$30.00 to C$36.00 in a research note on Wednesday, February 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $25.85.

Hedge Funds Weigh In On Canada Goose

Several institutional investors have recently added to or reduced their stakes in the stock. Clear Street Markets LLC purchased a new stake in Canada Goose in the fourth quarter worth $31,000. Gyon Technologies Capital Management LP bought a new stake in shares of Canada Goose in the fourth quarter valued at approximately $38,000. Deutsche Bank AG bought a new stake in shares of Canada Goose in the fourth quarter valued at approximately $49,000. Balyasny Asset Management LLC bought a new stake in shares of Canada Goose in the third quarter valued at approximately $183,000. Finally, Walleye Capital LLC bought a new stake in shares of Canada Goose in the second quarter valued at approximately $234,000. Institutional investors own 42.79% of the company’s stock.

About Canada Goose

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Canada Goose Holdings, Inc engages in the design, manufacture, distribution, and retail of outerwear for men, women, and children. It operates through the following segments: Direct-to-Consumer, Wholesale, and Other. The Direct-to-Consumer segment comprises of sales through country-specific e-Commerce platforms and its company-owned retail stores located in luxury shopping locations.