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Wall Street's Insights Into Key Metrics Ahead of Advance Auto Parts (AAP) Q2 Earnings
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The upcoming report from Advance Auto Parts (AAP - Free Report) is expected to reveal quarterly earnings of $1 per share, indicating a decline of 30.1% compared to the year-ago period. Analysts forecast revenues of $2.68 billion, representing a decrease of 0.3% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Advance Auto Parts metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Number of stores (Retail) - Total' of 5,101. The estimate compares to the year-ago value of 5,109.
Analysts expect 'Number of stores - WORLDPAC' to come in at 323. Compared to the current estimate, the company reported 319 in the same quarter of the previous year.
Analysts predict that the 'Number of stores - AAP' will reach 4,492. The estimate is in contrast to the year-ago figure of 4,471.
It is projected by analysts that the 'Number of stores opened' will reach 7. The estimate compares to the year-ago value of 18.
The consensus estimate for 'Number of stores (BOP)' stands at 5,097. Compared to the present estimate, the company reported 5,096 in the same quarter last year.
Based on the collective assessment of analysts, 'Number of stores - CARQUEST' should arrive at 292. The estimate is in contrast to the year-ago figure of 319.
Over the past month, Advance Auto Parts shares have recorded returns of +4.3% versus the Zacks S&P 500 composite's -1.9% change. Based on its Zacks Rank #3 (Hold), AAP will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Wall Street's Insights Into Key Metrics Ahead of Advance Auto Parts (AAP) Q2 Earnings
The upcoming report from Advance Auto Parts (AAP - Free Report) is expected to reveal quarterly earnings of $1 per share, indicating a decline of 30.1% compared to the year-ago period. Analysts forecast revenues of $2.68 billion, representing a decrease of 0.3% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Advance Auto Parts metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Number of stores (Retail) - Total' of 5,101. The estimate compares to the year-ago value of 5,109.
Analysts expect 'Number of stores - WORLDPAC' to come in at 323. Compared to the current estimate, the company reported 319 in the same quarter of the previous year.
Analysts predict that the 'Number of stores - AAP' will reach 4,492. The estimate is in contrast to the year-ago figure of 4,471.
It is projected by analysts that the 'Number of stores opened' will reach 7. The estimate compares to the year-ago value of 18.
The consensus estimate for 'Number of stores (BOP)' stands at 5,097. Compared to the present estimate, the company reported 5,096 in the same quarter last year.
Based on the collective assessment of analysts, 'Number of stores - CARQUEST' should arrive at 292. The estimate is in contrast to the year-ago figure of 319.
View all Key Company Metrics for Advance Auto Parts here>>>
Over the past month, Advance Auto Parts shares have recorded returns of +4.3% versus the Zacks S&P 500 composite's -1.9% change. Based on its Zacks Rank #3 (Hold), AAP will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>