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AutoZone (AZO) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, AutoZone (AZO - Free Report) closed at $3,169.82, marking a +1.04% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.82%. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw a decrease of 2.86%.
The auto parts retailer's stock has climbed by 11.28% in the past month, exceeding the Retail-Wholesale sector's gain of 3.69% and the S&P 500's gain of 0.71%.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. In that report, analysts expect AutoZone to post earnings of $36.06 per share. This would mark year-over-year growth of 16.17%. In the meantime, our current consensus estimate forecasts the revenue to be $4.95 billion, indicating a 6.98% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $170.3 per share and a revenue of $21.86 billion, representing changes of +11.64% and +7.5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AutoZone. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.46% lower within the past month. AutoZone is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, AutoZone currently has a Forward P/E ratio of 18.42. This signifies a premium in comparison to the average Forward P/E of 16.96 for its industry.
It's also important to note that AZO currently trades at a PEG ratio of 1.62. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Automotive - Retail and Wholesale - Parts was holding an average PEG ratio of 1.77 at yesterday's closing price.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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AutoZone (AZO) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, AutoZone (AZO - Free Report) closed at $3,169.82, marking a +1.04% move from the previous day. The stock's change was more than the S&P 500's daily loss of 1.82%. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw a decrease of 2.86%.
The auto parts retailer's stock has climbed by 11.28% in the past month, exceeding the Retail-Wholesale sector's gain of 3.69% and the S&P 500's gain of 0.71%.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. In that report, analysts expect AutoZone to post earnings of $36.06 per share. This would mark year-over-year growth of 16.17%. In the meantime, our current consensus estimate forecasts the revenue to be $4.95 billion, indicating a 6.98% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $170.3 per share and a revenue of $21.86 billion, representing changes of +11.64% and +7.5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AutoZone. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.46% lower within the past month. AutoZone is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, AutoZone currently has a Forward P/E ratio of 18.42. This signifies a premium in comparison to the average Forward P/E of 16.96 for its industry.
It's also important to note that AZO currently trades at a PEG ratio of 1.62. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Automotive - Retail and Wholesale - Parts was holding an average PEG ratio of 1.77 at yesterday's closing price.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.