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AutoZone (AZO) Dips More Than Broader Markets: What You Should Know
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AutoZone (AZO - Free Report) closed the most recent trading day at $2,064.08, moving -0.66% from the previous trading session. This move lagged the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Heading into today, shares of the auto parts retailer had gained 14.35% over the past month, outpacing the Retail-Wholesale sector's gain of 5.75% and the S&P 500's gain of 6.02% in that time.
Investors will be hoping for strength from AutoZone as it approaches its next earnings release. In that report, analysts expect AutoZone to post earnings of $25.78 per share. This would mark a year-over-year decline of 2.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.71 billion, up 1.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $111.22 per share and revenue of $15.86 billion. These totals would mark changes of +16.84% and +8.44%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for AutoZone. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.66% higher. AutoZone is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, AutoZone is holding a Forward P/E ratio of 18.68. This valuation marks a premium compared to its industry's average Forward P/E of 17.21.
It is also worth noting that AZO currently has a PEG ratio of 1.65. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Automotive - Retail and Wholesale - Parts stocks are, on average, holding a PEG ratio of 1.41 based on yesterday's closing prices.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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AutoZone (AZO) Dips More Than Broader Markets: What You Should Know
AutoZone (AZO - Free Report) closed the most recent trading day at $2,064.08, moving -0.66% from the previous trading session. This move lagged the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Heading into today, shares of the auto parts retailer had gained 14.35% over the past month, outpacing the Retail-Wholesale sector's gain of 5.75% and the S&P 500's gain of 6.02% in that time.
Investors will be hoping for strength from AutoZone as it approaches its next earnings release. In that report, analysts expect AutoZone to post earnings of $25.78 per share. This would mark a year-over-year decline of 2.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.71 billion, up 1.59% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $111.22 per share and revenue of $15.86 billion. These totals would mark changes of +16.84% and +8.44%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for AutoZone. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.66% higher. AutoZone is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, AutoZone is holding a Forward P/E ratio of 18.68. This valuation marks a premium compared to its industry's average Forward P/E of 17.21.
It is also worth noting that AZO currently has a PEG ratio of 1.65. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Automotive - Retail and Wholesale - Parts stocks are, on average, holding a PEG ratio of 1.41 based on yesterday's closing prices.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.