Zacks: Brokerages Anticipate AutoZone, Inc. (AZO) to Announce $15.15 Earnings Per Share
Equities analysts forecast that AutoZone, Inc. (NYSE:AZO) will announce earnings of $15.15 per share for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for AutoZone’s earnings, with the lowest EPS estimate coming in at $14.33 and the highest estimate coming in at $15.65. AutoZone posted earnings of $14.30 per share during the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The business is expected to announce its next quarterly earnings report on Thursday, September 28th.
According to Zacks, analysts expect that AutoZone will report full year earnings of $43.94 per share for the current financial year, with EPS estimates ranging from $43.10 to $44.52. For the next year, analysts anticipate that the company will post earnings of $47.38 per share, with EPS estimates ranging from $45.20 to $49.41. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover AutoZone.
AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 23rd. The company reported $11.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.00 by $0.56. AutoZone had a net margin of 11.82% and a negative return on equity of 70.52%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm posted $10.77 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis.
Several equities research analysts recently commented on AZO shares. Oppenheimer Holdings, Inc. dropped their price objective on AutoZone and set an “outperform” rating on the stock in a research report on Thursday, July 20th. ValuEngine raised AutoZone from a “hold” rating to a “buy” rating in a report on Wednesday, May 24th. Deutsche Bank AG lowered their target price on AutoZone from $800.00 to $650.00 and set a “hold” rating on the stock in a report on Thursday, May 25th. Citigroup Inc. lowered their target price on AutoZone from $920.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Finally, Morgan Stanley downgraded AutoZone from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. AutoZone currently has an average rating of “Hold” and a consensus target price of $775.91.
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Shares of AutoZone (NYSE AZO) opened at 510.19 on Friday. The company has a market capitalization of $14.30 billion, a PE ratio of 11.79 and a beta of 0.61. AutoZone has a 52 week low of $491.13 and a 52 week high of $813.70. The company has a 50-day moving average price of $520.66 and a 200-day moving average price of $642.60.
In related news, VP William T. Giles sold 10,000 shares of AutoZone stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $581.10, for a total transaction of $5,811,000.00. Following the sale, the vice president now owns 18,500 shares of the company’s stock, valued at approximately $10,750,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Earl G. Graves, Jr. sold 1,000 shares of AutoZone stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $602.50, for a total value of $602,500.00. Following the sale, the director now directly owns 4,431 shares in the company, valued at approximately $2,669,677.50. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of AZO. American Beacon Advisors Inc. acquired a new stake in shares of AutoZone during the first quarter valued at about $104,000. Fieldpoint Private Securities LLC acquired a new stake in shares of AutoZone during the second quarter valued at about $114,000. Alpha Windward LLC increased its stake in shares of AutoZone by 3.2% in the second quarter. Alpha Windward LLC now owns 259 shares of the company’s stock valued at $148,000 after buying an additional 8 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of AutoZone by 3.5% in the second quarter. Salem Investment Counselors Inc. now owns 264 shares of the company’s stock valued at $151,000 after buying an additional 9 shares during the period. Finally, Global X Management Co. LLC increased its stake in shares of AutoZone by 12.9% in the second quarter. Global X Management Co. LLC now owns 323 shares of the company’s stock valued at $184,000 after buying an additional 37 shares during the period. 96.08% of the stock is currently owned by institutional investors.
AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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