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Cava Group (CAVA) Laps the Stock Market: Here's Why
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Cava Group (CAVA - Free Report) ended the recent trading session at $138.65, demonstrating a +1.53% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a loss of 0.33%, and the technology-centric Nasdaq increased by 0.76%.
Heading into today, shares of the Mediterranean restaurant chain had gained 7.66% over the past month, outpacing the Retail-Wholesale sector's loss of 0.42% and the S&P 500's gain of 1.47% in that time.
The upcoming earnings release of Cava Group will be of great interest to investors. The company's earnings report is expected on November 12, 2024. The company is predicted to post an EPS of $0.11, indicating an 83.33% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $234.45 million, up 33.55% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.43 per share and revenue of $940.19 million, which would represent changes of +104.76% and +29.02%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cava Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.34% higher within the past month. Cava Group is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Cava Group is holding a Forward P/E ratio of 316.53. This denotes a premium relative to the industry's average Forward P/E of 22.7.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Cava Group (CAVA) Laps the Stock Market: Here's Why
Cava Group (CAVA - Free Report) ended the recent trading session at $138.65, demonstrating a +1.53% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a loss of 0.33%, and the technology-centric Nasdaq increased by 0.76%.
Heading into today, shares of the Mediterranean restaurant chain had gained 7.66% over the past month, outpacing the Retail-Wholesale sector's loss of 0.42% and the S&P 500's gain of 1.47% in that time.
The upcoming earnings release of Cava Group will be of great interest to investors. The company's earnings report is expected on November 12, 2024. The company is predicted to post an EPS of $0.11, indicating an 83.33% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $234.45 million, up 33.55% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.43 per share and revenue of $940.19 million, which would represent changes of +104.76% and +29.02%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Cava Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.34% higher within the past month. Cava Group is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Cava Group is holding a Forward P/E ratio of 316.53. This denotes a premium relative to the industry's average Forward P/E of 22.7.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.