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AutoZone (AZO) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, AutoZone (AZO - Free Report) closed at $3,078.31, marking a -0.73% move from the previous day. This change lagged the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.2%.
The auto parts retailer's stock has dropped by 2.24% in the past month, falling short of the Retail-Wholesale sector's gain of 4.37% and the S&P 500's gain of 1.54%.
Analysts and investors alike will be keeping a close eye on the performance of AutoZone in its upcoming earnings disclosure. The company's earnings report is set to go public on September 24, 2024. The company's earnings per share (EPS) are projected to be $53.61, reflecting a 15.39% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.2 billion, up 9.03% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for AutoZone. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's 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 past month, there's been no change in the Zacks Consensus EPS estimate. AutoZone is currently a Zacks Rank #4 (Sell).
Looking at valuation, AutoZone is presently trading at a Forward P/E ratio of 18.96. For comparison, its industry has an average Forward P/E of 22.71, which means AutoZone is trading at a discount to the group.
Investors should also note that AZO has a PEG ratio of 1.44 right now. 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 1.53 at the close of the market yesterday.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 226, putting it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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AutoZone (AZO) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, AutoZone (AZO - Free Report) closed at $3,078.31, marking a -0.73% move from the previous day. This change lagged the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.2%.
The auto parts retailer's stock has dropped by 2.24% in the past month, falling short of the Retail-Wholesale sector's gain of 4.37% and the S&P 500's gain of 1.54%.
Analysts and investors alike will be keeping a close eye on the performance of AutoZone in its upcoming earnings disclosure. The company's earnings report is set to go public on September 24, 2024. The company's earnings per share (EPS) are projected to be $53.61, reflecting a 15.39% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.2 billion, up 9.03% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for AutoZone. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's 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 past month, there's been no change in the Zacks Consensus EPS estimate. AutoZone is currently a Zacks Rank #4 (Sell).
Looking at valuation, AutoZone is presently trading at a Forward P/E ratio of 18.96. For comparison, its industry has an average Forward P/E of 22.71, which means AutoZone is trading at a discount to the group.
Investors should also note that AZO has a PEG ratio of 1.44 right now. 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 1.53 at the close of the market yesterday.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 226, putting it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.