In the latest trading session, Wayfair (W) closed at $227, marking a -1.91% move from the previous day. This change lagged the S&P 500's daily loss of 0.65%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 1.27%.
Coming into today, shares of the online home goods retailer had gained 15.57% in the past month. In that same time, the Retail-Wholesale sector gained 11.47%, while the S&P 500 gained 7.76%.
Wall Street will be looking for positivity from W as it approaches its next earnings report date. This is expected to be August 5, 2020. On that day, W is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 165.93%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.95 billion, up 68.75% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.07 per share and revenue of $12.70 billion. These totals would mark changes of +49.32% and +39.2%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for W. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.29% higher within the past month. W is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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