AutoZone (AZO) outperforms S&P 500 index with closing price of $2501

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AutoZone (AZO) reached a closing price of $2,501 on the most recent trading day, representing a gain of +1.63% from the previous trading day. This stock fared better than the daily loss of 0.39% that was experienced by the S&P 500 index. The loss on the Dow was 0.14 points, while the loss on the technology-focused Nasdqa was 0.1%.

Prior to the trading that took place today, the stock of the store that specialises in selling car components had increased by 6.95% in the previous 30 days. The S&P 500 index recorded a gain of 6.77% during the same time period, while the Retail-Wholesale sector recorded a gain of 1.84%.

AutoZone’s Next Earnings Report: Date, Expectations, and Analysis

The next earnings report for AutoZone is expected to be released on December 6, 2022. Prior to that date, the company will make an effort to demonstrate that it is robust. According to that research, each share of AutoZone’s stock will generate a profit of $24.82 dollars.

In the event that this is accurate, it represents a decrease of 3.39 percent from the previous year. It is anticipated that net sales will amount to $3.82 billion, representing a 4.16 percent increase from the previous year’s total.

We anticipate earnings of $125.33 per share for the entire year, which is 6.95% more than last year’s earnings, and sales of $17.02 billion, which is 4.7% more than last year’s sales. Both of these numbers are based on the average of all of the projections provided by Zacks Investment Research.

Traders should also pay attention to any revisions to AutoZone’s annual profit estimates that have been made over the past several months. This shift demonstrates how rapidly company fashions can transform in the not-too-distant future. This indicates that whenever the projections are increased, it is a positive indicator for the future of the organisation.

The Zacks Rank: A Comprehensive and Actionable Rating Structure

According to the data that we have, these shifts in estimates appear to be the result of shifts in the stock prices of companies with which the affected teams have close links. The Zacks Rank was developed so that other people might capitalise on the current market trend. Our methodology provides a comprehensible and actionable rating structure, taking into consideration the alterations to the projections.

There are five different Zacks Ranks, with the number one spot (Strong Buy) being the most favourable (Strong Sell). According to the findings of the independent auditors, the most successful stocks have, on average, increased their value by 25% per year since 1988. Our consensus forecast for EPS has increased by 0.09% over the course of the previous month and a half.

According to the forward price-to-earnings ratio, AutoZone’s current market value is 19.64 times its anticipated earnings. According to research conducted by S&P Capital IQ, AutoZone trades at a higher price than its peer group, which has a Forward P/E ratio of 18.1.

The Automotive – Retail and Wholesale – Parts sector is lagging behind other sectors in terms of PEG ratios.

As is plainly visible, AZO’s PEG ratio now stands at 1.48. This metric is comparable to the well-known price-to-earnings ratio, but it also takes into account analysts’ projections for how quickly the stock’s profits will expand. On the basis of how the market closed the previous day, we are able to determine that the typical PEG ratio for stocks in the Automotive – Retail and Wholesale – Parts sector is 1.74.

The Automotive – Retail and Wholesale – Parts sector is broken down into sub-industries based on the kind of businesses that operate within. According to Zacks, this particular category of enterprise is ranked 168th best out of more than 250 other categories.

The Zacks Industry Rank analyses the groups that we classify as industries by computing the average Zacks Rank of the individual stocks that belong to each group. According to the findings of our research, the top 50% of sectors generate twice as much revenue as the lowest 50% of industries.