Wall Street analysts expect AutoZone, Inc. (NYSE:AZO) to report earnings per share of $21.96 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for AutoZone’s earnings, with the highest EPS estimate coming in at $23.12 and the lowest estimate coming in at $20.51. AutoZone reported earnings of $22.59 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 2.8%. The business is expected to announce its next earnings results on Tuesday, September 22nd.
On average, analysts expect that AutoZone will report full-year earnings of $62.52 per share for the current year, with EPS estimates ranging from $57.60 to $65.51. For the next financial year, analysts expect that the business will report earnings of $68.33 per share, with EPS estimates ranging from $64.81 to $71.85. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow AutoZone.
AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $14.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $13.80 by $0.59. The firm had revenue of $2.78 billion during 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 company’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.
Several equities research analysts have commented on the stock. UBS Group increased their price objective on shares of AutoZone from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Wells Fargo & Co raised their price target on shares of AutoZone from $1,050.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Cfra restated a “strong-buy” rating and set a $1,275.00 price target (up previously from $1,250.00) on shares of AutoZone in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their price target on shares of AutoZone from $1,190.00 to $1,265.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, Wolfe Research upgraded shares of AutoZone from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, March 25th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. AutoZone currently has an average rating of “Buy” and a consensus target price of $1,215.88.
In other AutoZone news, VP Kristen C. Wright sold 1,890 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1,140.00, for a total value of $2,154,600.00. Following the completion of the transaction, the vice president now directly owns 2,137 shares of the company’s stock, valued at approximately $2,436,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Philip B. Daniele sold 176 shares of the firm’s 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 directly owns 247 shares of the company’s stock, valued at $271,751.87. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in AutoZone in the 4th quarter valued at $300,000. Lloyd Advisory Services LLC. bought a new position in AutoZone in the 4th quarter valued at $36,000. Dumont & Blake Investment Advisors LLC bought a new position in AutoZone in the 1st quarter valued at $563,000. Manning & Napier Group LLC boosted its holdings in AutoZone by 1.7% in the 1st quarter. Manning & Napier Group LLC now owns 23,716 shares of the company’s stock valued at $20,062,000 after purchasing an additional 391 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in AutoZone by 63.6% in the 4th quarter. Franklin Resources Inc. now owns 16,231 shares of the company’s stock valued at $19,336,000 after purchasing an additional 6,311 shares during the period. 91.75% of the stock is owned by hedge funds and other institutional investors.
NYSE:AZO traded down $7.40 on Thursday, hitting $1,120.52. The stock had a trading volume of 6,063 shares, compared to its average volume of 239,607. The stock has a market cap of $26.34 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. AutoZone has a 1 year low of $684.91 and a 1 year high of $1,274.41. The firm’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.
See Also: Why is a lock-up period needed for an IPO?
Get a free copy of the Zacks research report on AutoZone (AZO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.