Wall Street brokerages expect AutoZone, Inc. (NYSE:AZO) to announce $15.23 earnings per share for the current quarter, according to Zacks. Eight analysts have provided estimates for AutoZone’s earnings, with the lowest EPS estimate coming in at $14.75 and the highest estimate coming in at $15.61. AutoZone posted earnings of $13.42 per share during the same quarter last year, which suggests a positive year over year growth rate of 13.5%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, May 21st.
On average, analysts expect that AutoZone will report full year earnings of $61.74 per share for the current year, with EPS estimates ranging from $60.77 to $62.75. For the next financial year, analysts expect that the firm will report earnings of $64.85 per share, with EPS estimates ranging from $63.45 to $67.06. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow AutoZone.
AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, February 26th. The company reported $11.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.97 by $1.52. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.45 billion. AutoZone had a net margin of 12.49% and a negative return on equity of 98.24%. AutoZone’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $8.47 EPS.
Several research analysts recently issued reports on AZO shares. ValuEngine lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Citigroup started coverage on shares of AutoZone in a research note on Monday, April 1st. They issued a “buy” rating and a $1,206.00 price target for the company. Barclays reiterated an “overweight” rating and issued a $1,050.00 price target (up from $950.00) on shares of AutoZone in a research note on Wednesday, February 27th. Deutsche Bank increased their price target on shares of AutoZone from $960.00 to $1,035.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Finally, Morgan Stanley increased their price target on shares of AutoZone from $870.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 23rd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. AutoZone has a consensus rating of “Buy” and an average price target of $994.50.
Shares of AutoZone stock traded up $4.67 during trading on Friday, hitting $983.03. The company’s stock had a trading volume of 13,574 shares, compared to its average volume of 303,010. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.32 and a beta of 0.67. AutoZone has a 52 week low of $597.00 and a 52 week high of $1,074.67.
In other news, VP Thomas B. Newbern sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $995.92, for a total transaction of $7,469,400.00. Following the sale, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $12,023,742.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Albert Saltiel sold 2,150 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $912.11, for a total transaction of $1,961,036.50. Following the sale, the vice president now directly owns 2,308 shares in the company, valued at approximately $2,105,149.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,640 shares of company stock worth $10,370,907. Insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AZO. W.E. Donoghue & Co. LLC purchased a new position in shares of AutoZone in the first quarter worth approximately $2,900,000. FMR LLC boosted its holdings in shares of AutoZone by 3.7% in the fourth quarter. FMR LLC now owns 1,403,413 shares of the company’s stock worth $1,176,537,000 after buying an additional 49,662 shares during the last quarter. Nippon Life Global Investors Americas Inc. purchased a new position in shares of AutoZone in the fourth quarter worth approximately $2,691,000. State Treasurer State of Michigan boosted its holdings in shares of AutoZone by 413.3% in the fourth quarter. State Treasurer State of Michigan now owns 40,364 shares of the company’s stock worth $33,839,000 after buying an additional 32,500 shares during the last quarter. Finally, Polianta Ltd purchased a new position in shares of AutoZone in the fourth quarter worth approximately $1,173,000. 95.81% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: What is a recession?
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.