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AutoZone (AZO) Stock Slides as Market Rises: Facts to Know Before You Trade
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AutoZone (AZO - Free Report) closed the most recent trading day at $3,216.35, moving -2.8% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.32%. Elsewhere, the Dow saw a downswing of 0.46%, while the tech-heavy Nasdaq appreciated by 1.09%.
The auto parts retailer's shares have seen an increase of 13.69% over the last month, surpassing the Retail-Wholesale sector's gain of 9.3% and the S&P 500's loss of 5.4%.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. The company is forecasted to report an EPS of $36.06, showcasing a 16.17% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.95 billion, indicating a 6.98% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $170.3 per share and revenue of $21.86 billion, indicating changes of +11.64% and +7.5%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AutoZone. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.7% lower. At present, AutoZone boasts a Zacks Rank of #3 (Hold).
With respect to valuation, AutoZone is currently being traded at a Forward P/E ratio of 19.43. This represents a premium compared to its industry average Forward P/E of 16.41.
We can also see that AZO currently has a PEG ratio of 1.7. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AZO's industry had an average PEG ratio of 1.94 as of yesterday's close.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 51, finds itself in the top 21% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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AutoZone (AZO) Stock Slides as Market Rises: Facts to Know Before You Trade
AutoZone (AZO - Free Report) closed the most recent trading day at $3,216.35, moving -2.8% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.32%. Elsewhere, the Dow saw a downswing of 0.46%, while the tech-heavy Nasdaq appreciated by 1.09%.
The auto parts retailer's shares have seen an increase of 13.69% over the last month, surpassing the Retail-Wholesale sector's gain of 9.3% and the S&P 500's loss of 5.4%.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. The company is forecasted to report an EPS of $36.06, showcasing a 16.17% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.95 billion, indicating a 6.98% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $170.3 per share and revenue of $21.86 billion, indicating changes of +11.64% and +7.5%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AutoZone. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.7% lower. At present, AutoZone boasts a Zacks Rank of #3 (Hold).
With respect to valuation, AutoZone is currently being traded at a Forward P/E ratio of 19.43. This represents a premium compared to its industry average Forward P/E of 16.41.
We can also see that AZO currently has a PEG ratio of 1.7. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AZO's industry had an average PEG ratio of 1.94 as of yesterday's close.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 51, finds itself in the top 21% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.