Unlocking Q2 Potential of Advance Auto Parts (AAP): Exploring Wall Street Estimates for Key Metrics

Wall Street analysts forecast that Advance Auto Parts (AAP) will report quarterly earnings of $0.59 per share in its upcoming release, pointing to a year-over-year decline of 21.3%. It is anticipated that revenues will amount to $1.99 billion, exhibiting a decrease of 25.8% compared to the year-ago quarter.The current level reflects an upward revision of 0.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.Given this perspective, it's time to examine the average forecasts of specific Advance Auto Parts metrics that are routinely monitored and predicted by Wall Street analysts.According to the collective judgment of analysts, 'Number of stores (Retail) - Total' should come in at 4,293 . Compared to the current estimate, the company reported 5,097 in the same quarter of the previous year.Analysts forecast 'Number of stores opened' to reach 9 . The estimate compares to the year-ago value of 9 .Analysts predict that the 'Number of stores - CARQUEST' will reach 234 . The estimate compares to the year-ago value of 292 .Based on the collective assessment of analysts, 'Number of stores - AAP' should arrive at 4,060 . Compared to the current estimate, the company reported 4,484 in the same quarter of the previous year. View all Key Company Metrics for Advance Auto Parts here>>> Advance Auto Parts shares have witnessed a change of -5.6% in the past month, in contrast to the Zacks S&P 500 composite's +2.7% move. With a Zacks Rank #3 (Hold), AAP is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advance Auto Parts, Inc. (AAP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks