Analysts expect that AutoZone, Inc. (NYSE:AZO) will announce $3.88 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for AutoZone’s earnings, with estimates ranging from $3.79 billion to $3.94 billion. AutoZone reported sales of $3.99 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 2.8%. The business is expected to report its next quarterly earnings results on Tuesday, September 22nd.
On average, analysts expect that AutoZone will report full-year sales of $11.93 billion for the current financial year, with estimates ranging from $11.47 billion to $12.14 billion. For the next financial year, analysts expect that the company will post sales of $12.44 billion, with estimates ranging from $12.19 billion to $12.77 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow AutoZone.
AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $14.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $13.80 by $0.59. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.65 billion. AutoZone had a net margin of 12.90% and a negative return on equity of 91.18%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $15.99 EPS.
A number of brokerages have weighed in on AZO. Wolfe Research upgraded shares of AutoZone from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, March 25th. Wells Fargo & Co raised their target price on shares of AutoZone from $1,050.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Bank of America raised their target price on shares of AutoZone from $950.00 to $1,070.00 and gave the company a “neutral” rating in a research report on Sunday, April 19th. Wedbush restated an “outperform” rating and issued a $1,300.00 target price on shares of AutoZone in a research report on Tuesday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $1,250.00 target price (up previously from $1,119.00) on shares of AutoZone in a research report on Wednesday, May 27th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,215.88.
In related news, VP Philip B. Daniele sold 176 shares of AutoZone stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $1,100.21, for a total transaction of $193,636.96. Following the completion of the transaction, the vice president now owns 247 shares of the company’s stock, valued at $271,751.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kristen C. Wright sold 1,890 shares of AutoZone stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1,140.00, for a total transaction of $2,154,600.00. Following the transaction, the vice president now directly owns 2,137 shares of the company’s stock, valued at approximately $2,436,180. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Capital Square LLC bought a new stake in AutoZone in the first quarter worth about $25,000. Arlington Partners LLC bought a new stake in AutoZone in the first quarter worth about $30,000. Key Financial Inc bought a new stake in AutoZone in the first quarter worth about $30,000. Rockefeller Capital Management L.P. bought a new stake in AutoZone in the first quarter worth about $32,000. Finally, Lloyd Advisory Services LLC. bought a new stake in AutoZone in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 91.75% of the company’s stock.
Shares of NYSE AZO traded down $7.40 during trading hours on Friday, hitting $1,120.52. 6,063 shares of the stock were exchanged, compared to its average volume of 239,607. AutoZone has a 1-year low of $684.91 and a 1-year high of $1,274.41. The company has a market cap of $26.34 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company’s fifty day simple moving average is $1,114.46 and its two-hundred day simple moving average is $1,066.49.
AutoZone Company Profile
AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.
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