24 May 2022, Chicago Zacks.com introduces Analyst Advance Auto Parts Stock. Zacks Equity Research experts examine market news daily. Advance Auto Parts Stock Inc. AAP, Best Buy Co. Inc. BBY, AutoZone Inc. AZO, DICK’S Sporting Goods Inc. DKS, and Ulta Beauty Inc.
Monday’s Analyst Blog:
This Week, 5 Retailers Should Beat Earnings.
First-quarter 2022 earnings season is almost over. So far, earnings are better than expected. Almost all significant industries have declared earnings. Retailers will report this week, though.
Several prominent U.S. retailers failed earnings projections and gave a poor outlook. Inflation has boosted logistical and labor expenses. Some Americans are moving spending from discretionary things to food.
Five large retailers could outperform profits this week, boosting their stock values. These include Advance Auto Parts Stock, Best Buy, AutoZone, DICK’S, and Ulta Beauty.
467 S&P 500 businesses reported first-quarter profits by May 18. These firms’ profits are up 9.6% on 13.9% greater sales. 78% of these firms topped profits and 74% beat sales projections.
The S&P 500 Index is predicted to post 9.6% higher profits and 13.5% greater sales in the first quarter. The revised forecast is much higher than the first expectation of 4.3% year-over-year profits on 10% higher sales.
In-Depth
This week, five retailers announce profits. Each has a Zacks Rank #3 (Hold) and positive Earnings ESP. See today’s Zacks #1 Rank (Strong Buy) stocks here.
With a Zacks Rank #3 or higher and a positive Earnings ESP, the likelihood of an earnings beat is 70%. As result, these stocks should rise. Earnings ESP Filter helps you purchase or sell stocks before they’re reported.
Advance Auto Parts Stock sells replacement parts, accessories, batteries, and maintenance products for automobiles, vans, SUVs, and light and heavy-duty trucks. Advance Auto Parts Coupons attempts to create more shops, increase its internet presence, and form strategic partnerships could strengthen its chances.
Advance Auto Parts Stock multi-year partnership with Bridgestone for DieHard batteries could boost revenue. Strong financial sheet and shareholder capital return are commendable.
Advance Auto Parts Stock ESP is +4.91%. It expects 14.5 percent profit growth this year. Current-year earnings estimates have risen 0.1% in the previous week.
AAP’s latest four quarterly earnings beat averaged 11.1%. After the closing bell on May 23, the firm will report earnings.
Best Buy Sells Technological Goods In The U.S., Canada, And Mexico.
BBY’s omnichannel skills and investments in membership, technology, advertising, and health strategy have paid off. Best Buy’s excellent supply-chain experience, flexible retail operating strategy, and capacity to switch to digital mode boost its success.
Best Buy’s ESP is +0.43%. It expects 14.5 percent profit growth this year. BBY will report profits before the opening bell on May 24.
Advance Auto Parts Stock is a large U.S. retailer of car parts and accessories. It sells DIY and Do-It-For-Me vehicle components. High-quality goods, retail development, and Omni-channel activities strengthen AutoZone’s market share.
Advance Auto Parts Stock top-line growth is aided by ship-to-home next day, purchase online, pick-up in stores, and commercial client ordering. Duralast’s good reputation, reasonable price, and store-operating teams’ increased involvement are driving growth.
AutoZone’s ESP is +2.54%. It expects a 17.3% profit increase this year (August 2022). Current-year earnings estimates have risen 0.1% in the previous week.
AZO’s latest four quarterly earnings beat averaged 25.9%. The corporation will report earnings on May 24, before the opening bell.
DICK’S Sporting Goods Has Benefited From Focusing On Sales Growth.
DKS wants to invest in e-commerce, technology, retail payroll, Team Sports, and private brands. DICK’S Sporting Goods is building the finest Omni-channel experience for athletes by growing e-commerce.
Earnings ESP for DICK’S Sporting Goods is +2.43%. DKS’ latest four quarterly earnings beat averaged 102.5%. The corporation will report earnings on May 25, before the opening bell.
Thanks to excellent retail and digital operations, Ulta Beauty has omnichannel strength. ULTA’s skincare area has benefited from customers’ self-care enthusiasm. Management upped fiscal 2021 forecasts.
Ulta Beauty has gained market share in various beauty categories, especially skincare. Its first aim is to enhance its omnichannel business and investigate physical and digital opportunities.
Ulta Beauty’s ESP is +5.16%. Current-year earnings estimates have risen 0.1% in the previous week. ULTA’s latest four quarterly earnings beat averaged 67.8%. After the closing bell on May 26, the firm will report earnings.
Zacks Earnings Calendar shows impending earnings.
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