Canada Goose (NYSE:GOOS) Releases FY23 Earnings Guidance

Canada Goose (NYSE:GOOS – Get Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided EPS guidance of CAD1.60-1.90 for the period, compared to the consensus EPS estimate of $1.56. The company issued revenue guidance of CAD1.30-1.40 billion, compared to the consensus revenue estimate of $1.30 billion.Canada Goose also updated its FY 2023 guidance to $1.26-$1.50 EPS.

Canada Goose stock opened at $20.31 on Friday. The firm’s 50 day simple moving average is $23.34 and its 200 day simple moving average is $31.21. The company has a current ratio of 2.36, a quick ratio of 1.42 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $2.17 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 0.48 and a beta of 1.62. Canada Goose has a 1-year low of $17.91 and a 1-year high of $53.64.

Canada Goose (NYSE:GOOS – Get Rating) last posted its earnings results on Thursday, May 19th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $223.10 million for the quarter, compared to analyst estimates of $223.46 million. Canada Goose had a net margin of 8.52% and a return on equity of 24.35%. Canada Goose’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 EPS. Research analysts forecast that Canada Goose will post 1.34 earnings per share for the current year.

A number of equities analysts have commented on the stock. CIBC cut their price target on shares of Canada Goose from C$67.00 to C$45.00 in a research note on Friday, February 11th. OTR Global cut shares of Canada Goose from a mixed rating to a negative rating in a research note on Friday, April 22nd. Zacks Investment Research raised shares of Canada Goose from a sell rating to a hold rating in a research note on Tuesday, April 19th. Barclays cut their price target on shares of Canada Goose from $38.00 to $32.00 in a research note on Friday, April 1st. Finally, Veritas Investment Research raised shares of Canada Goose from a reduce rating to a buy rating in a research note on Monday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $38.09.

Several institutional investors have recently made changes to their positions in GOOS. Invesco Ltd. boosted its position in Canada Goose by 3.6% during the 3rd quarter. Invesco Ltd. now owns 5,708 shares of the company’s stock valued at $204,000 after buying an additional 196 shares during the period. LPL Financial LLC purchased a new stake in Canada Goose during the 4th quarter valued at $212,000. Acadian Asset Management LLC purchased a new stake in Canada Goose during the 1st quarter valued at $286,000. BNP Paribas Arbitrage SA boosted its position in Canada Goose by 14.8% during 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 boosted its position in Canada Goose by 8.1% during 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.

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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