Seeking Clues to Advance Auto Parts (AAP) Q3 Earnings? A Peek Into Wall Street Projections for Key Metrics
In its upcoming report, Advance Auto Parts (AAP) is predicted by Wall Street analysts to post quarterly earnings of $1.42 per share, reflecting a decline of 50% compared to the same period last year. Revenues are forecasted to be $2.68 billion, representing a year-over-year increase of 1.4%.
The consensus EPS estimate for the quarter has been revised 1.3% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision 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.
With that in mind, let's delve into the average projections of some Advance Auto Parts metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus among analysts is that 'Number of stores (Retail) - Total' will reach 5,119. Compared to the current estimate, the company reported 5,060 in the same quarter of the previous year.
It is projected by analysts that the 'Number of stores opened' will reach 10. The estimate is in contrast to the year-ago figure of 37.
The combined assessment of analysts suggests that 'Number of stores - AAP' will likely reach 4,482. Compared to the current estimate, the company reported 4,417 in the same quarter of the previous year.
Analysts predict that the 'Number of stores (BOP)' will reach 5,109. The estimate compares to the year-ago value of 5,036.
Analysts' assessment points toward 'Number of stores - WORLDPAC' reaching 322. The estimate compares to the year-ago value of 313.
View all Key Company Metrics for Advance Auto Parts here>>>
Shares of Advance Auto Parts have demonstrated returns of +12.4% over the past month compared to the Zacks S&P 500 composite's +1.8% change. With a Zacks Rank #5 (Strong Sell), AAP is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Advance Auto Parts, Inc. (AAP) : Free Stock Analysis Report
