Analysts on Wall Street project that Sweetgreen, Inc. (SG) will announce quarterly loss of $0.21 per share in its forthcoming report, representing an increase of 8.7% year over year. Revenues are projected to reach $164.61 million, increasing 4.3% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 2.6% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions 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.
With that in mind, let's delve into the average projections of some Sweetgreen metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Same-store sales' of -3.9%. The estimate is in contrast to the year-ago figure of 5%.
The consensus estimate for 'Ending restaurants' stands at 251. The estimate is in contrast to the year-ago figure of 227.
The average prediction of analysts places 'New Restaurant Openings' at 5. Compared to the current estimate, the company reported 6 in the same quarter of the previous year.
View all Key Company Metrics for Sweetgreen here>>>
Shares of Sweetgreen have experienced a change of -0.2% in the past month compared to the +0.4% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), SG is expected to mirror the overall market performance 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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