Chewy is not expected to post a full-year profit until fiscal 2025. The current consensus estimate (from just two analysts) calls for a profit of $0.33, a multiple of 82.2 times the stock’s current price. The 52-week trading range is $22.22 to $97.74. The company does not pay a dividend, and the total shareholder return for the past year is negative 64%.
GameStop
Video gaming retailer GameStop Corp. (NYSE: GME) has watched its share price fall by around 43% over the past 12 months. It has been worse. In mid-March, the stock traded down nearly 68%, and earlier this month the shares were trading down 63%.
The recent increase has almost nothing to do with the company’s performance. It is all about a potential stock split, an NFT and cryptocurrency wallet, and a potential short squeeze. Given the CEO’s reluctance to spell out how he plans to make GameStop profitable, it is hard to see any fundamental reason to hold the stock.
Just three analysts have had anything to say on the stock. Two rate the stock at Sell and one has a Hold rating. At a share price of around $137.20, the stock trades well above its median price target of $26.50 and more than four times its high price target of $30.00.
First-quarter revenue is forecast at $1.32 billion, down almost 42% sequentially but up 3.1% year over year. Analysts expect GameStop to report an adjusted loss per share of $1.22, compared to the prior quarter’s loss of $1.86 and the year-ago loss of $0.45. For the full 2023 fiscal year ending in January, analysts are forecasting an adjusted loss per share of $5.28 compared to the prior-year loss of $4.56 per share, and sales of $6.26 billion, up 4.1%.
GameStop is not expected to post a profit in either fiscal 2023 or 2024. Based on estimates of GameStop’s enterprise value ranging between $6.00 billion and $6.75 billion for the two fiscal years, the sales to enterprise value multiple is around 1.5. The stock’s 52-week range is $77.58 to $344.66, and GameStop does not pay a dividend. Total shareholder return for the past year is about negative 46%.
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