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Why AutoZone (AZO) Outpaced the Stock Market Today
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The most recent trading session ended with AutoZone (AZO - Free Report) standing at $3,109.56, reflecting a +0.33% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.99%, while the tech-heavy Nasdaq added 0.27%.
The auto parts retailer's shares have seen a decrease of 1.01% over the last month, not keeping up with the Retail-Wholesale sector's gain of 3.51% and the S&P 500's gain of 2.1%.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on December 10, 2024. It is anticipated that the company will report an EPS of $33.60, marking a 3.23% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.3 billion, indicating a 2.61% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $158.09 per share and revenue of $18.8 billion, indicating changes of +8.18% and +1.69%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for AutoZone. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AutoZone presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, AutoZone is holding a Forward P/E ratio of 19.6. This denotes a discount relative to the industry's average Forward P/E of 27.32.
It's also important to note that AZO currently trades at a PEG ratio of 1.57. 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. By the end of yesterday's trading, the Automotive - Retail and Wholesale - Parts industry had an average PEG ratio of 1.66.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 227, placing it within the bottom 10% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AZO in the coming trading sessions, be sure to utilize Zacks.com.
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Why AutoZone (AZO) Outpaced the Stock Market Today
The most recent trading session ended with AutoZone (AZO - Free Report) standing at $3,109.56, reflecting a +0.33% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.99%, while the tech-heavy Nasdaq added 0.27%.
The auto parts retailer's shares have seen a decrease of 1.01% over the last month, not keeping up with the Retail-Wholesale sector's gain of 3.51% and the S&P 500's gain of 2.1%.
Investors will be eagerly watching for the performance of AutoZone in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on December 10, 2024. It is anticipated that the company will report an EPS of $33.60, marking a 3.23% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.3 billion, indicating a 2.61% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $158.09 per share and revenue of $18.8 billion, indicating changes of +8.18% and +1.69%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for AutoZone. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. AutoZone presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, AutoZone is holding a Forward P/E ratio of 19.6. This denotes a discount relative to the industry's average Forward P/E of 27.32.
It's also important to note that AZO currently trades at a PEG ratio of 1.57. 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. By the end of yesterday's trading, the Automotive - Retail and Wholesale - Parts industry had an average PEG ratio of 1.66.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 227, placing it within the bottom 10% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AZO in the coming trading sessions, be sure to utilize Zacks.com.