Wall Street analysts forecast that Cava Group (CAVA) will report quarterly earnings of $0.13 per share in its upcoming release, pointing to a year-over-year decline of 23.5%. It is anticipated that revenues will amount to $286.56 million, exhibiting an increase of 22.7% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Cava metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- CAVA Restaurant' will reach $284.14 million. The estimate indicates a year-over-year change of +22.8%.
It is projected by analysts that the 'CAVA Same Restaurant Sales Growth' will reach 5.9%. The estimate compares to the year-ago value of 14.4%.
Analysts' assessment points toward 'End of period CAVA Restaurants' reaching 398 . The estimate is in contrast to the year-ago figure of 341 .
Based on the collective assessment of analysts, 'New CAVA restaurant openings, including converted Zoes Kitchen locations' should arrive at 14 . Compared to the present estimate, the company reported 18 in the same quarter last year.
The combined assessment of analysts suggests that 'Occupancy as a percentage of CAVA Revenue' will likely reach 6.8%. The estimate compares to the year-ago value of 6.9%.
The average prediction of analysts places 'Restaurant-Level profit- CAVA' at $74.79 million. Compared to the present estimate, the company reported $61.27 million in the same quarter last year.
View all Key Company Metrics for Cava here>>>
Cava shares have witnessed a change of -3.8% in the past month, in contrast to the Zacks S&P 500 composite's +1.2% move. With a Zacks Rank #4 (Sell), CAVA is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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CAVA Group, Inc. (CAVA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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