Canada Goose Holdings Inc. (NYSE: GOOS) stock fell -1.51% on Tuesday to $21.50 against a previous-day closing price of $21.83. With 3.11 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.7 million shares. During the session, the Apparel Manufacturing company that operates in wider Consumer Cyclical sector, reached to the highest price of $21.72 whereas the lowest price it dropped to was $21.11. The 52-week range on GOOS shows that it touched its highest point at $34.45 and its lowest point at $14.51 during that stretch. It currently has a 1-year price target of $19.59. Beta for the stock currently stands at 1.47.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GOOS was down-trending over the past week, with a drop of -2.32%, but this was up by 17.55% over a month. Three-month performance surged to 20.18% while six-month performance rose 13.40%. The stock lost -28.45% in the past year, while it has gained 20.72% so far this year. A look at the trailing 12-month EPS for GOOS yields 0.76 with Next year EPS estimates of 1.81. For the next quarter, that number is 1.64. This implies an EPS growth rate of 37.20% for this year and 22.88% for next year. EPS is expected to grow by 28.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 32.10%.
Float and Shares Shorts:
At present, 105.33 million GOOS shares are outstanding with a float of 54.03 million shares on hand for trading. On Oct 13, 2022, short shares totaled 8.97 million, which was 8.52% higher than short shares on Sep 14, 2022. In addition to Mr. Dani Reiss C.M. as the firm’s Chairman & CEO, Mr. Jonathan Stuart Sinclair serves as its CFO & Exec. VP.
Through their ownership of 89.59% of GOOS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.06% of GOOS, in contrast to 32.01% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in GOOS with 13.88% of the stake, Morgan Stanley Investment Managem holds 7,542,033 shares worth 7,542,033. A second-largest stockholder of GOOS, Fidelity Management & Research Co, holds 4,040,143 shares, controlling over 7.44% of the firm’s shares. Manulife Investment Management is the third largest shareholder in GOOS, holding 3,846,239 shares or 7.08% stake. With a 9.84% stake in GOOS, the Morgan Stanley Instl. Fund-Intern is the largest stakeholder. A total of 5,347,571 shares are owned by the mutual fund manager. The Opportunity Trust, which owns about 3.68% of GOOS stock, is the second-largest Mutual Fund holder. It holds 2,000,000 shares valued at 35.62 million. Morgan Stanley Instl. Fund-Intern holds 3.28% of the stake in GOOS, owning 1,779,423 shares worth 31.69 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GOOS since 14 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GOOS analysts setting a high price target of $30.54 and a low target of $10.00, the average target price over the next 12 months is $20.23. Based on these targets, GOOS could surge 42.05% to reach the target high and fall by -53.49% to reach the target low. Reaching the average price target will result in a decline of -5.91% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GOOS will report FY 2023 earnings on 05/18/2023. Analysts have provided yearly estimates in a range of $1.21 being high and $0.77 being low. For GOOS, this leads to a yearly average estimate of $1.05. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Canada Goose Holdings Inc. surprised analysts by $0.13 when it reported $0.16 EPS against a consensus estimate of $0.03. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $1.27 and the low estimate is $1.03. The average estimate for the next quarter is thus $1.19.