AutoZone (NYSE:AZO) Announces Quarterly Earnings Results, Misses Estimates By $0.82 EPS

AutoZone (NYSE:AZO) announced its earnings results on Tuesday. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82), Zacks reports. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%.

AutoZone Price Performance

Shares of AZO opened at $3,471.00 on Tuesday. The stock has a 50-day moving average of $3,341.31 and a 200-day moving average of $3,219.44. The company has a market cap of $58.25 billion, a PE ratio of 23.19, a P/E/G ratio of 1.86 and a beta of 0.70. AutoZone has a one year low of $2,728.97 and a one year high of $3,519.00.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AZO. Evercore ISI raised their target price on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Argus raised their target price on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research report on Thursday, January 2nd. Citigroup raised their target price on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, TD Cowen raised their target price on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,442.61.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.