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AutoZone (AZO) Surpasses Market Returns: Some Facts Worth Knowing
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AutoZone (AZO - Free Report) closed at $3,426.47 in the latest trading session, marking a +1.44% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.72%. Meanwhile, the Dow experienced a rise of 0.48%, and the technology-dominated Nasdaq saw an increase of 1.16%.
Prior to today's trading, shares of the auto parts retailer had lost 7.13% lagged the Retail-Wholesale sector's loss of 4.19% and the S&P 500's loss of 4.99%.
The investment community will be paying close attention to the earnings performance of AutoZone in its upcoming release. In that report, analysts expect AutoZone to post earnings of $36.09 per share. This would mark year-over-year growth of 2.06%. In the meantime, our current consensus estimate forecasts the revenue to be $4.86 billion, indicating a 8.8% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $149.27 per share and a revenue of $20.53 billion, indicating changes of +3.04% and +8.38%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for AutoZone. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.31% increase. As of now, AutoZone holds a Zacks Rank of #3 (Hold).
Digging into valuation, AutoZone currently has a Forward P/E ratio of 22.63. This indicates a premium in contrast to its industry's Forward P/E of 17.61.
One should further note that AZO currently holds a PEG ratio of 1.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Automotive - Retail and Wholesale - Parts industry held an average PEG ratio of 1.4.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 204, finds itself in the bottom 17% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AZO in the coming trading sessions, be sure to utilize Zacks.com.
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AutoZone (AZO) Surpasses Market Returns: Some Facts Worth Knowing
AutoZone (AZO - Free Report) closed at $3,426.47 in the latest trading session, marking a +1.44% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.72%. Meanwhile, the Dow experienced a rise of 0.48%, and the technology-dominated Nasdaq saw an increase of 1.16%.
Prior to today's trading, shares of the auto parts retailer had lost 7.13% lagged the Retail-Wholesale sector's loss of 4.19% and the S&P 500's loss of 4.99%.
The investment community will be paying close attention to the earnings performance of AutoZone in its upcoming release. In that report, analysts expect AutoZone to post earnings of $36.09 per share. This would mark year-over-year growth of 2.06%. In the meantime, our current consensus estimate forecasts the revenue to be $4.86 billion, indicating a 8.8% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $149.27 per share and a revenue of $20.53 billion, indicating changes of +3.04% and +8.38%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for AutoZone. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.31% increase. As of now, AutoZone holds a Zacks Rank of #3 (Hold).
Digging into valuation, AutoZone currently has a Forward P/E ratio of 22.63. This indicates a premium in contrast to its industry's Forward P/E of 17.61.
One should further note that AZO currently holds a PEG ratio of 1.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Automotive - Retail and Wholesale - Parts industry held an average PEG ratio of 1.4.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 204, finds itself in the bottom 17% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AZO in the coming trading sessions, be sure to utilize Zacks.com.