AutoZone (AZO) Stock Dips While Market Gains: Key Facts

Core Viewpoint - AutoZone is set to report its financial results on September 24, 2024, with expectations of a significant increase in EPS and revenue compared to the previous year [1][2]. Group 1: Financial Performance - AutoZone's stock closed at $3,101.04, reflecting a -0.71% change from the previous day, underperforming the S&P 500's gain of 0.13% [1]. - The company is anticipated to report an EPS of $53.61, representing a 15.39% increase year-over-year [1]. - Revenue is expected to reach $6.2 billion, indicating a 9.03% increase compared to the same quarter last year [1]. Group 2: Analyst Estimates and Market Sentiment - Recent revisions in analyst estimates for AutoZone are crucial as they reflect short-term business trends, with positive revisions indicating optimism [2]. - The Zacks Rank system, which assesses estimate changes, currently rates AutoZone as 3 (Hold), with the consensus EPS estimate remaining steady over the past month [2]. Group 3: Valuation Metrics - AutoZone has a Forward P/E ratio of 19.1, which is lower than the industry average of 22.74, suggesting a valuation discount [3]. - The company's PEG ratio stands at 1.45, compared to the industry average of 1.53, indicating a favorable growth outlook relative to its valuation [3]. - The Automotive - Retail and Wholesale - Parts industry ranks 226 out of over 250 industries, placing it in the bottom 11%, which may impact AutoZone's market performance [3].