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Unlocking Q2 Potential of Advance Auto Parts (AAP): Exploring Wall Street Estimates for Key Metrics
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Wall Street analysts forecast that Advance Auto Parts (AAP - Free Report) will report quarterly earnings of $0.59 per share in its upcoming release, pointing to a year-over-year decline of 21.3%. It is anticipated that revenues will amount to $1.99 billion, exhibiting a decrease of 25.8% compared to the year-ago quarter.
The current level reflects an upward revision of 0.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation 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 indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Advance Auto Parts metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Number of stores (Retail) - Total' should come in at 4,293 . Compared to the current estimate, the company reported 5,097 in the same quarter of the previous year.
Analysts forecast 'Number of stores opened' to reach 9 . The estimate compares to the year-ago value of 9 .
Analysts predict that the 'Number of stores - CARQUEST' will reach 234 . The estimate compares to the year-ago value of 292 .
Based on the collective assessment of analysts, 'Number of stores - AAP' should arrive at 4,060 . Compared to the current estimate, the company reported 4,484 in the same quarter of the previous year.
Advance Auto Parts shares have witnessed a change of -5.6% in the past month, in contrast to the Zacks S&P 500 composite's +2.7% move. With a Zacks Rank #3 (Hold), AAP is expected closely follow 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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Unlocking Q2 Potential of Advance Auto Parts (AAP): Exploring Wall Street Estimates for Key Metrics
Wall Street analysts forecast that Advance Auto Parts (AAP - Free Report) will report quarterly earnings of $0.59 per share in its upcoming release, pointing to a year-over-year decline of 21.3%. It is anticipated that revenues will amount to $1.99 billion, exhibiting a decrease of 25.8% compared to the year-ago quarter.
The current level reflects an upward revision of 0.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation 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 indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Advance Auto Parts metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Number of stores (Retail) - Total' should come in at 4,293 . Compared to the current estimate, the company reported 5,097 in the same quarter of the previous year.
Analysts forecast 'Number of stores opened' to reach 9 . The estimate compares to the year-ago value of 9 .
Analysts predict that the 'Number of stores - CARQUEST' will reach 234 . The estimate compares to the year-ago value of 292 .
Based on the collective assessment of analysts, 'Number of stores - AAP' should arrive at 4,060 . Compared to the current estimate, the company reported 4,484 in the same quarter of the previous year.
View all Key Company Metrics for Advance Auto Parts here>>>Advance Auto Parts shares have witnessed a change of -5.6% in the past month, in contrast to the Zacks S&P 500 composite's +2.7% move. With a Zacks Rank #3 (Hold), AAP is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .