Analysts on Wall Street project that AutoZone (AZO) will announce quarterly earnings of $32.22 per share in its forthcoming report, representing a decline of 0.9% year over year. Revenues are projected to reach $4.64 billion, increasing 8.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain AutoZone metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus among analysts is that 'Net Sales- Auto Parts' will reach $4.61 billion. The estimate points to a change of +9.7% from the year-ago quarter.
The average prediction of analysts places 'Net Sales- All Other' at $85.83 million. The estimate indicates a change of +7.4% from the prior-year quarter.
It is projected by analysts that the 'Net Sales- Domestic Commercial sales' will reach $1.27 billion. The estimate points to a change of +12.7% from the year-ago quarter.
The combined assessment of analysts suggests that 'Square footage - Total' will likely reach 52372 thousands of square feet. The estimate is in contrast to the year-ago figure of 49781 thousands of square feet.
The collective assessment of analysts points to an estimated 'Total Auto-Zone Store' of 7,711 . Compared to the current estimate, the company reported 7,387 in the same quarter of the previous year.
According to the collective judgment of analysts, 'Number of stores - Domestic' should come in at 6,659 . The estimate is in contrast to the year-ago figure of 6,455 .
Analysts expect 'Square footage per store' to come in at 6.80 million. Compared to the present estimate, the company reported 6.74 million in the same quarter last year.
The consensus estimate for 'Sales per average square foot' stands at $89.16 thousand. The estimate is in contrast to the year-ago figure of $85.00 thousand.
Based on the collective assessment of analysts, 'Number of stores - Opened-Brazil' should arrive at 6 . The estimate compares to the year-ago value of 5 .
Analysts predict that the 'Number of stores - Opened-Mexico' will reach 7 . Compared to the current estimate, the company reported 6 in the same quarter of the previous year.
Analysts' assessment points toward 'Number of stores - Opened-Domestic' reaching 35 . Compared to the current estimate, the company reported 23 in the same quarter of the previous year.
Analysts forecast 'Number of stores - Brazil' to reach 153 . The estimate is in contrast to the year-ago figure of 132 .
View all Key Company Metrics for AutoZone here>>>
Over the past month, shares of AutoZone have returned +4.4% versus the Zacks S&P 500 composite's +0.1% change. Currently, AZO carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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AutoZone, Inc. (AZO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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