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AutoZone (AZO) Rises As Market Takes a Dip: Key Facts
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AutoZone (AZO - Free Report) closed the most recent trading day at $2,941.73, moving +0.69% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 2.32% for the day. Elsewhere, the Dow lost 1.25%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the auto parts retailer had lost 0.51% over the past month, outpacing the Retail-Wholesale sector's loss of 0.68% and lagging the S&P 500's gain of 1.79% in that time.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. The company is expected to report EPS of $53.83, up 15.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.2 billion, up 9.03% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $151.59 per share and revenue of $18.5 billion, which would represent changes of +14.53% and +5.97%, respectively, from the prior year.
Any recent changes to analyst estimates for AutoZone should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 0.01% higher within the past month. AutoZone currently has a Zacks Rank of #3 (Hold).
Digging into valuation, AutoZone currently has a Forward P/E ratio of 19.27. This denotes a discount relative to the industry's average Forward P/E of 22.22.
Also, we should mention that AZO has a PEG ratio of 1.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Automotive - Retail and Wholesale - Parts industry stood at 1.55 at the close of the market yesterday.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 186, placing it within the bottom 27% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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AutoZone (AZO) Rises As Market Takes a Dip: Key Facts
AutoZone (AZO - Free Report) closed the most recent trading day at $2,941.73, moving +0.69% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 2.32% for the day. Elsewhere, the Dow lost 1.25%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the auto parts retailer had lost 0.51% over the past month, outpacing the Retail-Wholesale sector's loss of 0.68% and lagging the S&P 500's gain of 1.79% in that time.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. The company is expected to report EPS of $53.83, up 15.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.2 billion, up 9.03% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $151.59 per share and revenue of $18.5 billion, which would represent changes of +14.53% and +5.97%, respectively, from the prior year.
Any recent changes to analyst estimates for AutoZone should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 0.01% higher within the past month. AutoZone currently has a Zacks Rank of #3 (Hold).
Digging into valuation, AutoZone currently has a Forward P/E ratio of 19.27. This denotes a discount relative to the industry's average Forward P/E of 22.22.
Also, we should mention that AZO has a PEG ratio of 1.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Automotive - Retail and Wholesale - Parts industry stood at 1.55 at the close of the market yesterday.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 186, placing it within the bottom 27% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.