We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AutoZone (AZO) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
AutoZone (AZO - Free Report) ended the recent trading session at $3,200.76, demonstrating a -2.14% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.52%. Meanwhile, the Dow lost 1.24%, and the Nasdaq, a tech-heavy index, lost 0.21%.
The auto parts retailer's stock has climbed by 14.29% in the past month, exceeding the Retail-Wholesale sector's gain of 2.31% and the S&P 500's loss of 1.21%.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. On that day, AutoZone is projected to report earnings of $36.41 per share, which would represent year-over-year growth of 17.3%. Alongside, our most recent consensus estimate is anticipating revenue of $4.95 billion, indicating a 7.01% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $171.53 per share and revenue of $21.86 billion, which would represent changes of +12.44% and +7.48%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.49% decrease. As of now, AutoZone holds a Zacks Rank of #3 (Hold).
Digging into valuation, AutoZone currently has a Forward P/E ratio of 19.07. This expresses a premium compared to the average Forward P/E of 16.79 of its industry.
It is also worth noting that AZO currently has a PEG ratio of 1.52. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Automotive - Retail and Wholesale - Parts industry was having an average PEG ratio of 1.7.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
View the Zacks #1 Rank List
Image: Bigstock
AutoZone (AZO) Suffers a Larger Drop Than the General Market: Key Insights
AutoZone (AZO - Free Report) ended the recent trading session at $3,200.76, demonstrating a -2.14% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.52%. Meanwhile, the Dow lost 1.24%, and the Nasdaq, a tech-heavy index, lost 0.21%.
The auto parts retailer's stock has climbed by 14.29% in the past month, exceeding the Retail-Wholesale sector's gain of 2.31% and the S&P 500's loss of 1.21%.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. On that day, AutoZone is projected to report earnings of $36.41 per share, which would represent year-over-year growth of 17.3%. Alongside, our most recent consensus estimate is anticipating revenue of $4.95 billion, indicating a 7.01% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $171.53 per share and revenue of $21.86 billion, which would represent changes of +12.44% and +7.48%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.49% decrease. As of now, AutoZone holds a Zacks Rank of #3 (Hold).
Digging into valuation, AutoZone currently has a Forward P/E ratio of 19.07. This expresses a premium compared to the average Forward P/E of 16.79 of its industry.
It is also worth noting that AZO currently has a PEG ratio of 1.52. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Automotive - Retail and Wholesale - Parts industry was having an average PEG ratio of 1.7.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.