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Ahead of Advance Auto Parts (AAP) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics
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Analysts on Wall Street project that Advance Auto Parts (AAP - Free Report) will announce quarterly earnings of $0.52 per share in its forthcoming report, representing an increase of 163.4% year over year. Revenues are projected to reach $2.67 billion, declining 2% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone an upward revision of 28.8% 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 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 rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Advance Auto Parts metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Number of stores (Retail) - Total' of 4,989. Compared to the current estimate, the company reported 5,105 in the same quarter of the previous year.
It is projected by analysts that the 'Number of stores opened' will reach 6. Compared to the current estimate, the company reported 12 in the same quarter of the previous year.
The average prediction of analysts places 'Number of stores - AAP' at 4,485. Compared to the present estimate, the company reported 4,477 in the same quarter last year.
The consensus among analysts is that 'Number of stores (BOP)' will reach 5,097. The estimate compares to the year-ago value of 5,109.
Analysts forecast 'Number of stores - CARQUEST' to reach 290. Compared to the present estimate, the company reported 308 in the same quarter last year.
Over the past month, shares of Advance Auto Parts have returned +1% versus the Zacks S&P 500 composite's +4.4% change. Currently, AAP carries a Zacks Rank #5 (Strong 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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Ahead of Advance Auto Parts (AAP) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Analysts on Wall Street project that Advance Auto Parts (AAP - Free Report) will announce quarterly earnings of $0.52 per share in its forthcoming report, representing an increase of 163.4% year over year. Revenues are projected to reach $2.67 billion, declining 2% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone an upward revision of 28.8% 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 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 rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Advance Auto Parts metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Number of stores (Retail) - Total' of 4,989. Compared to the current estimate, the company reported 5,105 in the same quarter of the previous year.
It is projected by analysts that the 'Number of stores opened' will reach 6. Compared to the current estimate, the company reported 12 in the same quarter of the previous year.
The average prediction of analysts places 'Number of stores - AAP' at 4,485. Compared to the present estimate, the company reported 4,477 in the same quarter last year.
The consensus among analysts is that 'Number of stores (BOP)' will reach 5,097. The estimate compares to the year-ago value of 5,109.
Analysts forecast 'Number of stores - CARQUEST' to reach 290. Compared to the present estimate, the company reported 308 in the same quarter last year.
View all Key Company Metrics for Advance Auto Parts here>>>
Over the past month, shares of Advance Auto Parts have returned +1% versus the Zacks S&P 500 composite's +4.4% change. Currently, AAP carries a Zacks Rank #5 (Strong 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 >>>>