Wall Street analysts expect Sweetgreen, Inc. (SG) to post quarterly loss of -$0.18 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $183.01 million, up 5.5% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 3.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Sweetgreen metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Same-store sales' at -6.4%. The estimate compares to the year-ago value of 6.0%.
The consensus among analysts is that 'Ending restaurants' will reach 267 . Compared to the present estimate, the company reported 236 in the same quarter last year.
Based on the collective assessment of analysts, 'New Restaurant Openings' should arrive at 7 . Compared to the current estimate, the company reported 5 in the same quarter of the previous year.
View all Key Company Metrics for Sweetgreen here>>>
Over the past month, shares of Sweetgreen have returned -19.2% versus the Zacks S&P 500 composite's +2.1% change. Currently, SG carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Sweetgreen, Inc. (SG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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